Tween Brands Sets Sales Record for Holiday 2007

Mon Jan 7, 2008 4:57pm EST
 
[-] Text [+]
NEW ALBANY, Ohio--(Business Wire)--Tween Brands, Inc. (NYSE: TWB), today announced record sales for
the nine-week period ended January 5, 2008. Total sales increased 21%
over the same period last year to $264.6 million. Total sales through
Limited Too stores rose 5%, while total sales at Justice leaped 87%.

   Comparable store sales for the nine-week period rose 4% at Limited
Too and 31% at Justice, for a consolidated comparable store increase
of 9% versus 4% during the same period last year. Revenue from all
other sources nearly doubled, including a 134% increase in e-commerce
sales.

   "Our sales for November and December exceeded our expectations,"
said Mike Rayden, Tween Brands CEO. "Both Limited Too and Justice
delivered increases in comparable store transactions and our
disciplined inventory management has made it possible to finish a
challenging 2007 in a much cleaner inventory position compared to last
year," said Mr. Rayden.

   Mr. Rayden added that sales of lifestyle items, which include such
popular items as Webkinz(TM) virtual pets, Hannah Montana and Jonas
Brothers licensed merchandise and electronics, made a significant
contribution to the company's holiday sales success.

   "Our brands constantly strive to be the first to market with the
hottest fashion for tweens, whether that fashion is in apparel,
lifestyle merchandise or whatever is important in our tween's world,"
said Mr. Rayden.

   Tween Brands plans to release its complete operating results for
the fourth quarter and fiscal year 2007 on Wednesday, February 20,
2008, before the opening of trading on the New York Stock Exchange.

   About Tween Brands, Inc.

   Tween Brands, Inc. is a leading specialty retailer for tweens
(ages 7 to 14). At Limited Too, the company sells sportswear, related
accessories and key lifestyle items for active, fashion-aware tween
girls. Limited Too currently operates 594 stores across the United
States, and has 25 international franchised stores. Limited Too
publishes a catazine coinciding with key tween shopping times
throughout the year and conducts e-commerce on its Web site,
www.limitedtoo.com.

   Justice is the company's newer specialty retail concept for tween
girls, offering moderately-priced sportswear, accessories and
lifestyle items in predominantly off-the-mall store sites. Justice
also publishes a catazine for its tween customers and currently
operates 257 stores across the United States, the locations of which
can be found on their Web site, www.justicejustforgirls.com.

   Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995

   This press release contains various "forward-looking statements"
specifically related to the company's operating result for fiscal
2007, within the meaning of the Private Securities Litigation Reform
Act of 1995 and other applicable securities laws. Such statements can
be identified by the use of the forward-looking words "anticipate,"
"estimate," "project," "target," "predict," "believe," "intend,"
"plan," "expect," "hope," "risk," "could," "pro forma," "potential,"
"prospects, " "outlook," or similar words. These statements discuss
future expectations, contain projections regarding future
developments, operations or financial conditions, or state other
forward-looking information. These forward-looking statements involve
various important risks, uncertainties and other factors that could
cause our actual results for 2007 to differ materially from those
expressed. The following factors, among others, could affect our
future financial performance and cause actual future results to differ
materially from those expressed or implied in any forward-looking
statements included in this press release: changes in consumer
spending patterns, consumer preferences and overall economic
conditions; decline in the demand for our merchandise; the impact of
competition and pricing; the effectiveness of our brand awareness and
marketing programs; a significant change in the regulatory environment
applicable to our business; risks associated with our sourcing and
logistics functions; the impact of modifying and implementing new
information technology systems; changes in existing or potential trade
restrictions, duties, tariffs or quotas; currency and exchange risks;
availability of suitable store locations at appropriate terms; ability
to develop new merchandise; ability to hire and train associates; the
potential impact of health concerns relating to severe infectious
diseases, particularly on manufacturing operations of our vendors in
Asia and elsewhere; acts of terrorism in the U.S. or worldwide; and
other risks that may be described in other reports and filings we make
with the Securities and Exchange Commission. Future economic and
industry trends that could potentially impact revenue and
profitability are difficult to predict. Therefore, there can be no
assurance that the forward-looking statements included here will prove
to be accurate. The inclusion of forward-looking statements should not
be regarded a representation by us, or any other person, that our
objectives will be achieved. The forward-looking statements made
herein are based on information presently available to us, as the
management of the company. We assume no obligation to publicly update
or revise our forward-looking statements even if experience or future
changes make it clear that any projected results expressed or implied
therein will not be realized.

   Company home page: www.tweenbrands.com

Tween Brands, Inc.
Robert Atkinson, 614-775-3739

Copyright Business Wire 2008

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video