Dillard's, Inc. (DDS-NYSE) (the "Company") announced today that the Board of Directors declared a cash dividend of $0.05 per share on the Class A and Class B Common Stock of the Company payable August 1, 2012 to shareholders of record as of June 29, 2012.

Ross Stores, Inc. today reported earnings per share for the 13 weeks ended April 28, 2012 of $.93, up from a split-adjusted $.74 for the 13 weeks ended April 30, 2011.  These results represent a 26% increase on top of a 28% gain in last year's first quarter.  Net earnings for the 2012 first quarter grew to $208.6 million, up 21% from $173.0 million in the prior year.  Sales for the quarter ended April 28, 2012 increased 14% to $2.357 billion, with comparable store sales up a strong 9% on top of a 3% gain in 2011.

Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We are pleased with our much better-than-expected financial results in the first quarter.  Our robust sales and earnings were driven mainly by our ongoing ability to deliver a wide array of fresh and exciting name brand bargains to today's value-focused consumers. In addition, we believe that favorable weather across many of our markets also contributed to our above-plan performance." 

Mr. Balmuth continued, "Operating margin for the period grew about 70 basis points to a record 14.4% driven primarily by leverage on selling, general and administrative expenses from the robust gains in same store sales. Cost of goods sold as a percent of sales improved by 15 basis points from the prior year, as higher merchandise gross margin and leverage on occupancy were partially offset by increases in distribution, freight and buying costs."

Mr. Balmuth also noted, "We continued to enhance stockholder returns through our stock repurchase and dividend programs in the first quarter.  During the first three months of fiscal 2012, we repurchased 2.0 million shares of common stock for an aggregate price of
$111 million.  We remain on track to buy back a total of $450 million in common stock during fiscal 2012 to complete the two-year $900 million program authorized in early 2011."  

Looking ahead, Mr. Balmuth said, "For the second quarter ending July 28, 2012, we are now forecasting same store sales to increase 3% to 4% and earnings per share of $.72 to $.75, up from last year's $.64.  This represents 13% to 17% projected growth on top of a 20% increase in the second quarter of 2011. In addition, we are raising our 2012 earnings per share guidance for the 53 weeks ending February 2, 2013 to $3.26 to $3.37, above our initial guidance of $3.12 to $3.27 and compared to $2.86 in fiscal 2011."

Commenting on the Company's future expansion plans, Mr. Balmuth said, "We are pleased to announce that we have increased our long-term projected store potential to 2,500 locations in the United States. Our current research and proven ability to cluster stores closer together indicate that we can more fully saturate existing and new markets.  As a result, we now believe that Ross Dress for Less can grow to approximately 2,000 locations across the country, up from our prior target of 1,500. We continue to believe that dd's DISCOUNTS can become a chain of about 500 stores. Combined, we therefore have the ability over time to more than double the size of our Company domestically."

The Company will provide additional details about its first quarter results and management's outlook for the second quarter on a conference call to be held on Thursday, May 17, 2012 at 11:00 a.m. Eastern time.  Participants may listen to a real time audio webcast of the conference call by visiting the Investors section of the Company's website located at www.rossstores.com.  A recorded version of the call will also be available at the website address, and via a telephone recording through 8:00 p.m. Eastern time on Thursday, May 24, 2012 at 404-537-3406, ID # 80147849.

 

Ross Stores, Inc. is an S&P 500, Fortune 500 and Nasdaq 100 (ROST) company headquartered in Pleasanton, California, with fiscal 2011 revenues of $8.6 billion.  The Company operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,051 locations in 30 states, the District of Columbia and Guam. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20% to 60% off department and specialty store regular prices. The Company also operates 95 dd's DISCOUNTS® in eight states that feature a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20% to 70% off moderate department and discount store regular prices. Additional information is available at www.rossstores.com.

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Chico's FAS, Inc. will participate in the Citi 2012 Global Consumer Conference on Tuesday, May 22, 2012, beginning at 8:15 a.m. EDT. The presentation will be webcast over the Internet and may be accessed at the link below:

http://www.veracast.com/webcasts/citigroup/consumer2012/25102239.cfm

ABOUT CHICO'S FAS, INC.

The Company, through its brands – Chico's, White House | Black Market, Soma Intimates, and Boston Proper, is a women's specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items.

The Chico's brand offers women a combination of great style, one-of-a-kind details and warm personal service.  Chico's currently operates 606 boutiques and 86 outlets throughout the U.S., publishes a monthly catalog and offers round-the-clock shopping at www.chicos.com.

White House | Black Market strives to make women feel beautiful with apparel and accessories in the honest simplicity of black and white and the individuality of styles built from it.  White House | Black Market currently operates 376 boutiques and 31 outlets, publishes a catalog highlighting its latest fashions and connects with customers at www.whbm.com.

Soma Intimates offers beautiful and sensual lingerie, loungewear and beauty.  Soma Intimates currently operates 180 boutiques and 15 outlets, publishes a catalog coinciding with key shopping periods and sells direct-to-consumer at www.soma.com.  

Boston Proper is a leading direct-to-consumer retailer of women's high-end apparel and accessories.  Boston Proper provides unique, distinctive fashion designed for today's independent, confident and active woman.  The merchandise focus is about creating a daring, modern style with a sensual feel and is available exclusively through the Boston Proper catalog and website, www.bostonproper.com.

 

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 Ascena Retail Group, Inc. (NASDAQ - ASNA), today announces that it will be presenting at Citi’s 2012 Global Consumer Conference to be held at The New York Palace Hotel in New York, NY on May 24, 2012 at 9:05 a.m.

The Ascena Retail Group investor presentation will be webcast live and can be accessed at http://www.ascenaretail.com

Charming Shoppes, Inc. (NASDAQ: CHRS) (the "Company"), a leading apparel retailer specializing in women's plus apparel, today announced that, pursuant to the terms of the indenture (the "Indenture") governing its 1.125% Senior Convertible Notes due 2014  (the "Notes"), it anticipates that a Fundamental Change (as such term is defined in the Indenture) may occur on or after June 14, 2012 (the "Fundamental Change") as a result of the proposed transactions contemplated by the Agreement and Plan of Merger, dated May 1, 2012 (the "Merger Agreement"), among the Company, Ascena Retail Group, Inc., a Delaware corporation ("Ascena") and Colombia Acquisition Corp., a Pennsylvania corporation and a direct wholly owned subsidiary of Ascena ("Merger Sub").

On May 15, 2012, Merger Sub commenced a tender offer (the "Offer") for all outstanding shares of common stock of the Company (the "Common Stock") at a purchase price of $7.35, net per share in cash, without interest and subject to any required withholding taxes. The Offer is scheduled to expire at 12:00 midnight, Eastern Standard Time, on June 12, 2012, unless extended. The consummation of the Offer is conditioned on the tender of a majority of shares of Common Stock on a fully diluted basis (as defined in the Merger Agreement), as well as the satisfaction of certain customary closing conditions.

Following the successful consummation of the Offer, Merger Sub is expected to merge with and into the Company (the "Merger"), and the outstanding shares of Common Stock not tendered in the Offer will be converted into the right to receive $7.35 net per share in cash, without interest and subject to any required withholding taxes, as paid in the Offer (the "Offer Price").

The Company anticipates that the Fundamental Change will occur on the date that Merger Sub consummates the purchase of Common Stock pursuant to the Offer (the "Effective Date"), which is expected to occur on or after June 14, 2012. Pursuant to the Indenture, the holders of the Notes have the right to convert their Notes according to the terms of the Indenture at any time from and after the date that is 30 calendar days prior to the Effective Date until and including the close of business on the business day that immediately precedes the date on which such holders may require the repurchase of their Notes as discussed below.  Each of the Offer and Merger is subject to certain closing conditions and there can be no assurance that the Offer or the Merger will be consummated on the expected dates, or at all.

Under the Indenture, the conversion rate for the Notes is subject to a make-whole adjustment if certain thresholds are met.  Since the Offer Price is $7.35 per share, the holders of the Notes will not be entitled to a make-whole adjustment and the Notes are convertible at the rate of 65.0233 shares per $1,000 principal amount of Notes.  This is equivalent to a conversion price of $15.38 per share.  The Company does not anticipate that holders of the Notes will elect to convert because the holders of the Notes will be entitled to receive consideration with a greater value upon a repurchase of the Notes following a Fundamental Change at such holders' option as required under the Indenture as compared to the payment they would be entitled to receive following a conversion of their Notes. 

At April 28, 2012 Charming Shoppes, Inc. operated 1,832 retail stores in 48 states under the names LANE BRYANT®, CACIQUE®, LANE BRYANT OUTLET®, FASHION BUG®, FASHION BUG PLUS®, and CATHERINES PLUS SIZES®. The company also operates the Figi's family of brands, including the holiday food and gifts catalog Figi's® Gifts in Good Taste®, the home and gifts catalog Figi's® Gallery and its wholesale unit Figi's Business Services. For more information about Charming Shoppes and its brands, please visit www.charmingshoppes.com, www.lanebryant.com, www.cacique.com, www.fashionbug.com, www.catherines.com, www.loop18.com, www.figis.com, and www.figisgallery.com.

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Guess?, Inc. will release its financial results for the first quarter of fiscal year 2013, which ended April 28, 2012, on Tuesday, May 22, 2012.  The Company will webcast a conference call at 4:30 p.m. (ET) that day to discuss the results.  

A live webcast will be accessible at www.guess.com via the "Investor Relations" link.  A replay of the conference will be archived on the website for 30 days.

Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, footwear and other related consumer products.  Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world.  As of April 28, 2012, the Company directly operated 503 retail stores in the United States and Canada and 264 retail stores in Europe, Asia and Latin America.  The Company's licensees and distributors operated an additional 828 retail stores outside of the United States and Canada. For more information about the Company, please visit www.guess.com.

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Ross Stores, Inc. (Nasdaq: ROST) will announce its first quarter 2012 earnings results on Thursday, May 17, 2012. A press release will be sent out at approximately 8:30 a.m. Eastern time.

The Company will also provide additional details concerning its first quarter 2012 results and business outlook on a conference call to be held on Thursday, May 17, 2012 at 11:00 a.m. Eastern time.  Participants may listen to a real time audio webcast of the conference call by visiting the Investors section of the Company's website located at www.rossstores.com.

A recorded version of the call will also be available at the website address, as well as via a telephone recording at 404-537-3406, Passcode #80147849, through 8:00 p.m. Eastern time on May 24, 2012.

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Women's specialty retailer Chico's FAS, Inc. will host a conference call with security analysts on Wednesday May 16, 2012 beginning at 8:30 a.m. EDT to review the operating results for the first quarter ended April 28, 2012.    

The phone number for the call is 866-843-0890.  International callers should use 412-317-9250.  The Elite Entry number, 8461975, is required in order to join the conference call. Interested participants should call 10-15 minutes prior to the 8:30 a.m. start in order to be placed in queue.

The live call is also being webcast over the Internet by Thomson Street Events and is being delivered over their investor distribution network.  Individual investors can listen to the webcast at www.earnings.com.  Institutional subscribers can access the webcast at www.streetevents.com.   The webcast will also be available at the Events Calendar page of the Chico's FAS, Inc. corporate Web site, www.chicosfas.com.  

ABOUT CHICO'S FAS, INC.

The Company, through its brands – Chico's, White House | Black Market, Soma Intimates, and Boston Proper, is a women's specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items.

The Chico's brand offers women a combination of great style, one-of-a-kind details and warm personal service. Chico's currently operates 605 boutiques and 86 outlets throughout the U.S., publishes a monthly catalog and offers round-the-clock shopping at www.chicos.com.

White House | Black Market strives to make women feel beautiful with apparel and accessories in the honest simplicity of black and white and the individuality of styles built from it. White House | Black Market currently operates 374 boutiques and 31 outlets, publishes a catalog highlighting its latest fashions and connects with customers at www.whbm.com.

Soma Intimates offers beautiful and sensual lingerie, loungewear and beauty. Soma Intimates currently operates 178 boutiques and 15 outlets, publishes a catalog coinciding with key shopping periods and sells direct-to-consumer at www.soma.com.  

Boston Proper is a leading direct-to-consumer retailer of women's high-end apparel and accessories. Boston Proper provides unique, distinctive fashion designed for today's independent, confident and active woman. The merchandise focus is about creating a daring, modern style with a sensual feel and is available exclusively through the Boston Proper catalog and website, www.bostonproper.com.

Learn more about Chico's on the Plus Dragon fashion scales.

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