Ascena's net income up 50%; raises 2012 earnings guidance

02 Mar '12

5 min read

The Company ended the second quarter of Fiscal 2012 with $577.6 million in cash and investments, compared to $436.1 million in cash and investments at the end of Fiscal 2011.
The Company repurchased approximately 1.4 million shares at an aggregate cost of $37.2 million during the first six months of Fiscal 2012. Approximately $89.9 million remained available under the Company's authorized share repurchase program at the end of the second quarter of Fiscal 2012.

David Jaffe, President and Chief Executive Officer of Ascena Retail Group Inc., commented, “We are pleased to have continued to see positive acceptance for our merchandise assortments and a generally strong performance in a tough market environment. We are successfully utilizing a variety of strategies to highlight the strength of our fashion position and value we provide to drive increases in our market share. With this growth, we are working more efficiently while maintaining an intense focus on both our gross margin and our on-going expense controls. We believe we are well positioned for the spring and summer seasons in each of our concepts.”

David Jaffe, President and Chief Executive Officer of Ascena Retail Group Inc., commented, “We are pleased to have continued to see positive acceptance for our merchandise assortments and a generally strong performance in a tough market environment. We are successfully utilizing a variety of strategies to highlight the strength of our fashion position and value we provide to drive increases in our market share. With this growth, we are working more efficiently while maintaining an intense focus on both our gross margin and our on-going expense controls. We believe we are well positioned for the spring and summer seasons in each of our concepts.”

Ascena Retail Group Inc. is a leading national specialty retailer of apparel for women and tween girls, operating through its wholly-owned subsidiaries, the dressbarn, maurices and Justice brands. The Company operates through its subsidiaries over 2,500 stores throughout the United States, Puerto Rico and Canada.

Ascena Retail Group Inc

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