Duluth-based Maurices posts record profits

Duluth-based Maurices has ended its fiscal year with record-breaking profits and sales.

For the first time in the retail chain’s history, total sales surpassed $1 billion, up 9 percent over last year, according to the company’s annual results.

Sales were boosted with the addition of 41 stores. Excluding the newly opened stores, sales still increased by 5 percent.

The record results were driven by sales growth at the chain’s existing stores, also called the comparable store sales, combined with record merchandise margins, according to Brian Thun, the company’s chief financial officer.

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