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News and Information Article
Updates Full-Year Sales and Earnings Estimates
PHILADELPHIA, Oct. 5 /-FirstCall/ -- Deb Shops, Inc. (Nasdaq:
DEBS) today reported that comparable store sales increased 6.8% for the
month ended September 30, 2006. Total sales increased 10.4% to $28.3
million from $25.6 million for the month ended September 30, 2005.
The Company reports financial results on the calendar month. Therefore,
differences in timing will occur when comparing Deb Shops results to those
of retailers reporting on a 4-5-4 calendar. During the month of September
2006, there were five Saturdays compared to four Saturdays in September
2005. The month of October 2006 will have one fewer Saturday than October
2005.
Based on current information, Deb Shops expects fiscal 2007 sales to be
in the range of $325 million to $330 million, versus prior guidance of $320
to $325 million. This is based on a projected low- to mid-single-digit
comparable store sales decrease for the remainder of the fiscal year,
offset by net new store growth. Accordingly, fiscal 2007 earnings per share
are expected to range from $1.40 to $1.50, versus prior guidance of $1.30
to $1.40.
Marvin Rounick, President and CEO of Deb Shops, stated, "We were
pleasantly surprised by our September sales performance, which includes the
benefit of an additional Saturday in 2006 compared to 2005. Our performance
during September indicates that the negative business conditions we
experienced during the summer of 2006 may not be as severe as we originally
anticipated. As a result, we have revised our sales and earnings
expectations for the remainder of fiscal year 2007."
For the remainder of fiscal year 2007, Deb Shops, Inc. expects to
report monthly sales according to the following calendar:
Month End Reporting Date
October 2006 November 2, 2006
November 2006 December 5, 2006*
December 2006 January 4, 2007
January 2007 February 2, 2007*
*Denotes dates that differ from reporting dates under the 4-5-4 calendar.
Deb Shops, Inc. is a national specialty retailer of fashionable
apparel, shoes and accessories for juniors in both regular and plus sizes.
The Company operates 336 specialty apparel stores in 42 states under the
DEB and Tops N Bottoms names.
The Company has made in this release, and from time to time may
otherwise make, "forward-looking statements" (as that term is defined under
federal securities laws) concerning the Companys future operations,
performance, profitability, revenues, expenses, earnings and financial
condition. This release includes, in particular, forward-looking statements
regarding expectations of future performance, store openings and closings
and other matters. Such forward-looking statements are subject to various
risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors. Such factors may include,
but are not limited to, the Companys ability to improve or maintain sales
and margins, respond to changes in fashion, find suitable retail locations
and attract and retain key management personnel. Such factors may also
include other risks and uncertainties detailed in the Companys filings
with the Securities and Exchange Commission, including the Companys Annual
Report on Form 10-K for the fiscal year ended January 31, 2006. The Company
assumes no obligation to update or revise its forward-looking statements
even if experience or future changes make it clear that any projected
results expressed or implied therein will not be realized.
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