Home / Knowledge / News / Apparel/Garments / Ascena Retail posts 8% rise in Q3 FY'12 sales
Ascena Retail posts 8% rise in Q3 FY'12 sales
01
Jun '12
Ascena Retail Group Inc. reported financial results for its fiscal third quarter and nine months ended April 28, 2012.

Fiscal Third Quarter Results
Net income for the third quarter of Fiscal 2012 was $49.4 million, representing a slight decrease to the year-ago quarter's net income of $51.8 million. Earnings per share for the third quarter of Fiscal 2012 decreased slightly to $0.31 per diluted share, compared to $0.32 of earnings per diluted share for the third quarter of Fiscal 2011.

The decrease in net income and earnings per share for the third quarter of Fiscal 2012 was entirely attributable to the incurrence of $6.8 million, or $0.03 per diluted share, of costs relating to the pending acquisition of Charming Shoppes, Inc.

Net sales for the third quarter of Fiscal 2012 increased 8% to $783.3 million, compared to $722.8 million for last year's third quarter. This was primarily due to a 5% increase in comparable store sales, and strong growth in sales from new stores and e-commerce. Consolidated comparable store sales include stores open for at least one year and do not include e-commerce sales results.

The Company was pleased to note that e-commerce sales increased 55% to $36 million versus last year's comparable period.

Selling, general and administrative (“SG&A”) expenses for the third quarter of Fiscal 2012 were $229.0 million, or 29.2% of sales, compared to $210.5 million, or 29.1% of sales last year. The marginal increase in SG&A expenses as a percent of sale was related to an increase in stock-based compensation costs.

Operating income for the third quarter of Fiscal 2012 decreased slightly to $85.3 million, or 10.9% of sales, compared to $86.4 million, or 12.0% of sales last year. The 110 basis point decrease in operating income as a percent of sales was due to a combination of a decrease in merchandise margin due to higher promotional markdowns, as well as the impact of higher SG&A expenses.

Fiscal Nine Month Results
Net income for the first nine-month period of Fiscal 2012 increased by 13% to $160.6 million; compared to net income of $142.3 million for the first nine months of Fiscal 2011.

Earnings per share for the first nine-month period of Fiscal 2012 increased by 15% to $1.01 per diluted share, compared to $0.88 of earnings per diluted share for the first nine months of Fiscal 2011. This growth in net income and earnings per share for the first nine months of Fiscal 2012 was partially offset by the incurrence of the above-mentioned $6.8 million, or $0.03 per diluted share, of costs relating to the pending Charming Shoppes acquisition.

Net sales for the first nine-month period of Fiscal 2012 increased 10% to $2.4 billion, compared to $2.2 billion for last year's first nine months. The overall increase was primarily due to a 6% comparable store sales increase, and strong growth in sales from new stores and e-commerce. E-commerce sales increased 55% to $121 million versus last year.


Must ReadView All

Courtesy: Business wire

Textiles | On 28th Jul 2017

Taiwan launches new products at Outdoor Retailer show

The Taiwan External Trade Development Council (TAITRA) hosted the...

Textiles | On 28th Jul 2017

Clariant, Huntsman present update on planned merger

Clariant and Huntsman Corporation have presented a first update on...

Fashion | On 28th Jul 2017

Kering’s first half consolidated revenue up 28.2%

Kering has announced a consolidated revenue of €7,296.2 million for...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X