Deb Shops, Inc. Reports June Sales
July 06 2006 - 8:35AM
PR Newswire (US)
Updates Full-Year Sales and Earnings Estimates PHILADELPHIA, July 6
/PRNewswire-FirstCall/ -- Deb Shops, Inc. (NASDAQ:DEBS) today
reported that comparable store sales decreased 4.9% for the month
ended June 30, 2006. Total sales decreased 0.9% to $24.8 million
from $25.0 million for the month ended June 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 June 2006, there were five Fridays compared to four
Fridays during June 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 $343 to $348 million. This
is based on a projected low 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
$1.85 to $1.90. For the remainder of the fiscal year, the Company
expects to open seven to nine new stores. Marvin Rounick, President
and CEO of Deb Shops, stated, "Our performance during June has
resulted in us revising our sales and earnings expectations for the
remainder of fiscal year 2007. We are focused on reviewing our
merchandising strategy and are committed to making the adjustments
necessary to improve our sales trends." For the remainder of fiscal
year 2007, Deb Shops, Inc. expects to report monthly sales
according to the following calendar: Month End Reporting Date July
2006 August 3, 2006 August 2006 September 7, 2006* September 2006
October 5, 2006 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 334 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 Company's
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 Company's 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 Company's filings with the Securities
and Exchange Commission, including the Company's 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. DATASOURCE: Deb Shops, Inc. CONTACT: Barry Susson, Chief
Financial Officer, Deb Shops, Inc., +1-215-676-6000 x362; or
Brendon Frey, Integrated Corporate Relations, +1-203-682-8200, for
Deb Shops, Inc. Web site: http://www.debshops.com/
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