On shares baseball atrailing twelve chicago fire unravels months basis, the combined company has generated in excess of$2.4 billion in net sales and currently operates 2,465 stores. The transaction,unanimously approved by each of Dress Barn, Inc.`s and Tween Brands, Inc.`sBoard of Directors, is expected to close in the fourth quarter of calendar year2009 and is subject to Tween Brands, Inc stockholder approval and othercustomary closing conditions David R. Jaffe, President and Chief Executive Officer of Dress Barn, Inc.,commented, "We are excited to have found another strategically compellingtransaction to drive superior value to our shareholders. The Justice concept,which offers an attractive mix of well-priced fashion for girls ages 7 to 14,will diversify and complement our existing business. We are also pleased towelcome the talented and proven Tween Brands, Inc.`s team into our organization.We look forward to working together to fully realize the significant potentialof this business." Upon completion of the acquisition, Tween Brands, Inc., which operates theJustice retail chain, will operate as a separate subsidiary of Dress Barn, Inc.Its management team, led by Mike Rayden, will continue to manage operations andlead Justice`s future growth.
Mike Rayden, currently Chairman and ChiefExecutive Officer of Tween Brands, Inc., will report directly to David Jaffe baseball managers . Rayden commented, "We are exceptionally pleased to partner with dressbarn andmaurices cubbies . We intend to complete the transition of our business to fully leveragethe Justice concept and to further cement our leadership position in the $12billion tween girls apparel market cubbies caps . I believe that our combined company will beformidable and have significant competitive advantages in this increasinglychallenging market environment cubbies hat . We believe this merger with Dress Barn, Inc.reinforces our ability to generate ongoing returns for shareholders." Jaffe continued, "We believe that Justice is a highly attractive business thathas come under significant pressure as a result of the tight credit market andthe challenging consumer environment. The repayment of Tween Brands, Inc.`s bankdebt immediately alleviates the financial pressures on the Justice business sothat it can reach its full potential.
The management at both companies believesthere is an excellent opportunity over the next several years to grow theoperating margin for the Justice business to a level at least consistent withthat generated by Dress Barn, Inc.`s existing consolidated operations baseball ticket . As we sawwith our integration of maurices, the implementation of best practices acrossour entire organization can help to realize enhanced sales and profitability.Additionally, we expect to realize economies of scale in areas such as sourcingand real estate, as well as capture other potential synergies and cost savings."Banc of America Merrill Lynch Securities is acting as financial advisor andProskauer Rose LLP as legal advisors for Dress Barn, Inc Peter J cubbies t shirt . SolomonCompany is acting as financial advisor and O'Melveny & Myers LLP as legaladvisors to Tween Brands, Inc Conference Call InformationDress Barn, Inc and Tween Brands, Inc cubbies t shirts . will conduct a joint conference calllater this morning, June 25, 2009 at 11:00 AM Eastern Time to review thetransaction, followed by a question and answer session cubs rooftop . Parties interested inparticipating in this call should dial in at (800) 561-2693 five minutes priorto the start time, the passcode is 17719450. The call will also besimultaneously broadcast at and Arecording of the call will be available shortly after its conclusion and untilJuly 25, 2009 by dialing (888) 286-8010, the passcode is 78280868 About Dress Barn, Inc.Dress Barn, Inc.
(NASDAQ - DBRN), is a leading national specialty apparelretailer offering quality career and casual fashion apparel through itsdressbarn and maurices brands baseball tickets . As of June 24, 2009, the Company operated 841dressbarn stores in 47 states and 716 maurices stores in 44 states go cubs go mp3 . For moreinformation, please visit and Dress Barn Forward-Looking Statement DisclosureCertain statements made within this press release may constitute"forward-looking statements", within the meaning of the Private SecuritiesLitigation Reform Act of 1995.Such forward-looking statements are subject tocertain risks and uncertainties that could cause actual results to differmaterially chicago fire . The Company does not undertake to publicly update or review itsforward-looking statements even if experience or future changes make it clearthat our projected results expressed or implied will not be achieved cubbies .
Detailedinformation concerning a number of factors that could cause actual results todiffer materially from the information contained herein is readily available onour most recent report on Form 10-K for the year ended July 26, 2008 and Form10-Q for the quarter ended April 25, 2009.About Tween Brands, Inc.Headquartered in New Albany, Ohio, Tween Brands, Inc carlos zambrano . (NYSE:TWB) is the largestpremier tween specialty retailer in the world cubbies caps . Through powerhouse brands Justiceand Limited Too, Tween Brands provides the hottest fashion merchandise andaccessories for tween (age 7-14) girls cubbies hat . Known as the destination for fashion-aware tweens, Justice proudly featuresoutgoing sales associates who assist girls in expressing their individuality andself-confidence through fashion .
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