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

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Paolo Ocleppo
Sandvik Hyperion

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Robert Brunner
Devereux

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search