Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Chris Kim – J.P. Morgan.
Christopher Kim – J.P. Morgan
Thanks. Hey, Armand could you give us a little more color in terms of what your expectations are for EBIT margins and comps by division for the fiscal year, at least directionally
Armand Correia
I think at this point David’s pretty much already given you kind of the guidance. We’re looking at it this point. I think we’ll want to keep it at the DB Inc level, and again the comps are going to – we’re looking at our estimates comps down in the mid single digits. Certainly saying that Dress Barn stores do have easier comparisons for the remainder of the year, but at this point we need a little more clarity.
Christopher Kim – J.P. Morgan
And so as you kind of look at the current landscape you’ve toned down your expectations. Do, I mean it sounds like from a marketing perspective you guys are probably going to spend a little more this year as a percentage of sales assuming a negative mid single digit comp?
David R. Jaffe
Certainly as a percent of sale is going to go up, but more importantly I think if you look in total dollars, I think you’re also going to see it go up a bit as we throw in some of these incremental promotions, Chris.
Christopher Kim – J.P. Morgan
If that’s the case, do you guys see any sort of opportunity to tweak SG&A lower whether it’s corporate overhead or any other areas should the environment get materially worse?
David R. Jaffe
Well, if it gets materially worse certainly we’d have to go back and look at all our expenses, but right now I think we operate fairly leanly as it is. So we’re comfortable with where we are. If the weak climate continues through the holidays and into the spring kind of all bets are off and we’ve got to rethink our strategy.
Christopher Kim – J.P. Morgan
So from an SG&A dollar growth perspective, can we assume a similar kind of growth rate for the year excluding the asset impairments? So maybe 3% to 4% increase in SG&A for the year? Is that fair?
Armand Correia
That’s certainly – that’s a good goal. And obviously again, it’s going to be predicated on the tone of the business. But again, as you well know, sometimes it’s a situation trying to chase that a little. And it may be slightly higher than that if the business does continue at this level.
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