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Author: jfbell Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 15  
Subject: My take on Dress Barn Date: 3/27/2001 10:51 AM
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One important indicator widely followed in retail is something called "Same Store Sales" (SSS). It is a measure of how much the stores in a chain increased or decreased their sales relative to the previous year. A chain of stores has two ways to grow their sales, one is by opening more stores and the second is to increase their sales at existing stores. I am not sure that Dress Barn, with over 700 locations will be able to grow sales in the future by opening new locations.

01/1999 -1%
02/1999 -5%
03/1999 +6%
04/1999 -6%
05/1999 -2%
06/1999 0%
07/1999 -6%
08/1999 -1%
09/1999 +2%
10/1999 -2%
11/1999 +2%
12/1999 -5%
01/2000 -6%
02/2000 +7%
03/2000 +16%
04/2000 -3%
05/2000 +7%
06/2000 +3%
07/2000 +2%
08/2000 +4%
09/2000 +9%
10/2000 +3%
11/2000 +5%
12/2000 -1%
01/2001 +1%
02/2001 -4%

These are reasonably steady SSS numbers, but they don't particularly blow me away.

My bottom line:
The company has a strong balance sheet and is selling at a P/E of roughly 10, so I think it's a decent value, but I'm not sure this company is off-the-charts terrific.
--John
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