Ascena’s financial results for its fiscal fourth quarter and full year ended July 28, 2012 reflect its acquisition of Charming Shoppes Inc. on June 14, 2012. Accordingly, operating results for those periods are not comparable to the prior year. In order to enhance comparability, adjusted results that exclude the effect of the Charming Acquisition have been presented to supplement the reported results for all periods of Fiscal 2012.
Fiscal Fourth Quarter Results
On a reported basis, income from continuing operations for the fourth quarter of Fiscal 2012 was $11.2 million, representing a decrease to the year-ago quarter’s income from continuing operations of $28.2 million. Earnings per share from continuing operations for the fourth quarter of Fiscal 2012 decreased to $0.07 per diluted share, compared to $0.18 of earnings per diluted share from continuing operations for the fourth quarter of Fiscal 2011.
Including the discontinued operations of the newly acquired Fashion Bug and Figi’s businesses, which are intended to be disposed of, net income for the fourth quarter of Fiscal 2012 was $1.6 million and earnings per diluted share was $0.01.
On an adjusted basis, income from continuing operations for the fourth quarter of Fiscal 2012 was $49.0 million, representing an increase to the year-ago quarter’s net income of $28.2 million. Adjusted earnings per share from continuing operations for the fourth quarter of Fiscal 2012 increased to $0.31 per diluted share, compared to $0.18 of earnings per diluted share on a reported basis for the fourth quarter of Fiscal 2011.
Net sales for the fourth quarter of Fiscal 2012 increased 29% to $939.7 million, compared to $725.8 million for last year’s fourth quarter on a reported basis. On an adjusted basis, net sales for the fourth quarter of Fiscal 2012 increased 8%. Such increase was largely driven by strong growth in sales from new stores and e-commerce, as well as an overall comparable store sales increase of 2%, led by Justice at 5%.
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 on an adjusted basis, which excludes Charming results, increased 49% to $39 million versus last year’s comparable period.
Click here to read more details:
Ascena Retail Group Inc
Textiles | On 28th Feb 2017
Changing business models and companies' decision to reduce their...
Textiles | On 28th Feb 2017
Exports of textiles and garments from China resumed growth in the...
Fabric does not restrict us from fashion trends
‘In future, clothing boundary lines will become increasingly blurred.’
Mangalam Industries Pvt Ltd
‘The manufacturing sector is improving day-by-day, becoming better in...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
"Now we can see the Russian trend in international fashion. And Russian...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...