Boosted by its acquisition of the Justice tween operation, Dress Barn Inc. Wednesday reported substantial gains in sales and profits for the fourth quarter and full year.
For the three months ended July 31, net income rose 64 percent to $42 million, or 52 cents a diluted share, from $25.6 million, or 40 cents, a year ago. Sales jumped 78.2 percent to $710.9 million from $398.9 million. Justice contributed $245.7 million in sales in the quarter. Dress Barn completed its merger with Tween Brands, which operated the Justice nameplate, in November.
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