Tween Brands Sets Sales Record for Holiday 2007

Reuters:

Tween Brands, Inc., lately announced record sales for the 9-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 9-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.