David's Bridal Reports Strong Comparisons for the Fourth Quarter and Full Year 1999

Business Wire, Feb 10, 2000

Business Editors

ARDMORE, Pa.--(BUSINESS WIRE)--Feb. 10, 2000

David's Bridal, Inc. (Nasdaq:DABR), reported net income of $394,000, or $0.02 per diluted share, for the quarter ended January 1, 2000, compared with a net loss of $310,000, or $0.03 per diluted share, in the year-ago period.

Fourth quarter revenues increased 36.6 percent to $34.7 million in 1999, on an 11.1 percent gain in comparable store sales. Operating income expanded to $558,000, versus an operating loss of $193,000 in the fourth quarter of 1998.

&uot;Our fourth quarter results marked the 11th consecutive quarter of double-digit comparable sales increases,&uot; said Robert D. Huth, CEO of David's Bridal. &uot;And we continued to post extremely strong gains in sales and income, as we did throughout the year.&uot;

Store Expansion Program

Eight new stores were opened during the fourth quarter of 1999, bringing the total number of stores opened in 1999 to 23. The stores opened in the fourth quarter are located in Indianapolis, IN; North Attleboro, MA; Little Rock, AR; Minneapolis, MN; Syracuse, NY; Warwick, RI; Houston, TX and Milwaukee, WI.

1999 Performance

Net income in 1999 increased 92.5 percent to $11.1 million, or $0.58 per diluted share, compared with $5.8 million, or $0.31 per diluted share, in 1998. Revenues increased 42.2 percent to $188.5 million, on an 18.2 percent gain in comparable store sales. Operating income expanded 72.6 percent.

Outlook

As the only national chain in the fragmented bridal retailing industry, we have enormous opportunities to generate strong sales growth and expand our operating profit margins,&uot; &uot;The tone of business remains very healthy and we look forward to the Company's continued growth as we enter 2000.&uot;

David's Bridal, Inc. is the largest and only national retailer of bridal gowns and bridal-related apparel and accessories. David's operates 102 stores in 35 states.

Note: This release contains forward-looking statements concerning the Company's current expectations as to future performance within the meaning of The Private Securities Litigation Reform Act of 1995, including our statements regarding the prospects for our business.

There are important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements, including: changes in general economic and business conditions, and those in the bridal industry in particular; actions of competitors; our ability to recover our costs in the pricing of our products; the extent to which we are able to develop new products and expand our business into new markets; our inability to effectively manage our growth; the level of demand for our products; changes in our business strategies; developments in international markets; and our inability to obtain financing when required. Investors are encouraged to review the Company's SEC filings for more information about the factors affecting the Company's business. Our filings can be obtained from the Company or by accessing the SEC's internet site at http://www.sec.gov.

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