Dress Barn raises FY10 profit view

 @ibtimes
on December 16 2009 1:59 PM

* Sees FY 2010 EPS $1.35-$1.45

* Says stores have performed better than expected

* Shares rise 5 pct

Dec 16  - Dress Barn Inc (DBRN.O) raised its profit view for the fiscal 2010 as its stores have performed better than expected till date, the company said on Wednesday.

Shares of the company, which operates stores under the maurices, Justice and dressbarn brands, rose 5 percent to touch a year-high of $22.74.

The women's clothing retailer expects to earn $1.35 a share to $1.45 a share, up from its previous outlook of $1.20 a share to $1.30 a share.

Analysts on average were expecting earnings of $1.32 a share, before items, according to Thomson Reuters I/B/E/S.

Shares of the company, which agreed to buy teen-apparel seller Tween Brands Inc in June, were trading up 3 percent at $22.43 in afternoon trade on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anne Pallivathuckal)

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