Dress Barn Inc. missed Wall Street’s second-quarter earnings projections and fell to a loss as the women’s apparel retailer said heavily marked-down merchandise during the holiday season weakened its margins.
For the three months ended Jan. 24, the Suffern, N.Y.-based company on Wednesday reported a net loss of $1.1 million, or 2 cents a diluted share, compared with net income of $7.4 million, or 12 cents a share, for the period a year earlier. Net sales shrank 0.7 percent to $343.2 million from $345.6 million. Analysts surveyed by Yahoo Finance were looking for earnings per share of 1 cent on sales of $341.5 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)