Maurices reports record first quarter results
Monday, December 28, 2015
Maurices followed up its record setting 2015 fiscal year with a very strong first quarter in fiscal 2016. Total sales for the first quarter, which ended October 24, increased 12% over the same period to $282.7 million as compared to $251.9 million last year. Comparable sales were up 7, representing the seventh consecutive quarter of positive comp growth for Maurices.
Profits for the first quarter were a record $39.7 million, or 14% of sales, which is a 48% increase over the same period last year.
Maurices continues its new store expansion plans, adding 50 new stores as part of its US and Canadian expansion strategy, ending the fiscal year with roughly 985 stores.
“It is exciting to see the momentum from fiscal 2015 carrying into 2016. We continue to focus on a few key initiatives that we believe will drive growth into the future,” said Brian Thun, Maurices SVP/Chief Financial Officer.
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