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Previous: DRESS BARN INC, 10-K, 1999-10-27 |
Next: TBC CORP, 10-Q, 1999-10-27 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K AMENDMENT NUMBER 1
ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended July 31, 1999 Commission file number 0-11736
THE DRESS BARN, INC.
(Exact name of registrant as specified in its charter)
Connecticut 06-0812960
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
30 Dunnigan Drive, Suffern, New York 10901
(Address of principal executive offices) (Zip Code)
(914) 369-4500
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(g) of the Act:
Title of each class
Common Stock $.05 par value
Indicate whether the registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes [X] No [ ].
Indicate if disclosure of delinquent filers pursuant to Item 405 of Regulation
S-K is not contained herein, and will not be contained, to the best of
registrant's knowledge, in the definitive proxy incorporated by reference in
Part III of this Form 10-K or any amendment to this Form 10-K. [X].
As of October 25, 1999, 20,058,287 shares of common shares were outstanding. The
aggregate market value of the common shares (based upon the October 25, 1999
closing price of $17.8125 on the NASDAQ Stock Market) of The Dress Barn, Inc.
held by non-affiliates was approximately $74.1 million. For the purposes of such
calculation, all outstanding shares of Common Stock have been considered held by
non-affiliates, other than the 4,157,555 shares beneficially owned by Directors
and Officers of the registrant. In making such calculation, the registrant does
not determine the affiliate or non-affiliate status of any shares for any other
purpose.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the registrant's Proxy Statement for the Annual Meeting of
Shareholders to be held on December 21, 1999 are incorporated into Parts I and
III of this Form 10-K.
Cover Page
<PAGE>
<TABLE>
The Dress Barn, Inc. and Subsidiaries
Consolidated Balance Sheets
Dollars in thousands, except share data
<CAPTION>
July 31, July 25,
ASSETS 1999 1998
----------------- -----------------
Current Assets:
<S> <C> <C>
Cash and cash equivalents $17,492 $3,032
Marketable securities and investments (Note 2) 139,400 139,994
Merchandise inventories 110,138 102,706
Prepaid expenses and other 2,038 4,201
----------------- -----------------
Total Current Assets 269,068 249,933
----------------- -----------------
Property and Equipment:
Leasehold improvements 55,542 54,201
Fixtures and equipment 119,723 104,500
Computer software 7,007 9,018
Automotive equipment 499 415
----------------- -----------------
182,771 168,134
Less accumulated depreciation
and amortization 101,416 86,399
----------------- -----------------
81,355 81,735
----------------- -----------------
Deferred Income Taxes (Note 4) 9,866 3,076
----------------- -----------------
Other Assets 3,290 6,410
----------------- -----------------
$363,579 $341,154
================= =================
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable- trade $62,215 $41,211
Accrued expenses 38,504 31,508
Customer credits 3,364 2,827
Income taxes payable 5,896 --
----------------- -----------------
Total Current Liabilities 109,979 75,546
----------------- -----------------
Commitments (Note 5)
Shareholders' Equity:
Preferred stock, par value $.05 per share:
Authorized- 100,000 shares
Issued and outstanding- none -- --
Common stock, par value $.05 per share:
Authorized- 30,000,000 shares
Issued- 24,646,278 and 24,506,559
shares, and outstanding- 19,936,478 and
22,839,059 shares, respectively 1,232 1,225
Additional paid-in capital 28,797 25,175
Retained earnings 292,428 259,104
Treasury stock, at cost (68,274) (21,005)
Accumulated other comprehensive (loss) income (583) 1,109
----------------- -----------------
253,600 265,608
================= =================
$363,579 $341,154
================= =================
<FN>
See notes to consolidated financial statements
</FN>
</TABLE>
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