Dress Barn Inc. ran counter to the retail trend with increases in profits and sales during its first quarter, but the operator of the Dress Barn and Maurices nameplates joined the chorus of firms making lower earnings estimates.
Net income for the three months ended Oct. 25 rose 4.4 percent to $20.5 million, or 32 cents a diluted share, from $19.6 million, or 30 cents, in the year-ago quarter. On average, analysts expected EPS of 27 cents.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"