Ascena lowers EPS guidance for FY'14

The Company also announced that, due to lower than planned Holiday sales, it is lowering earnings per share guidance for its current fiscal year ending July 26, 2014.

The Company noted that combined comparable store and e-commerce sales for the fiscal months of November and December increased 1% on a consolidated basis.

David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “A challenging Holiday selling season resulted in increased promotional activity.

“We successfully cleared excess inventory and have taken the necessary markdowns in the second quarter to transition cleanly into the spring season. As a result, we now believe full year adjusted diluted earnings per share guidance in the range of $1.10 to $1.15 is more appropriate, versus our previous guidance of $1.25 to $1.30.”

About Ascena Retail Group, Inc.

Ascena Retail Group, Inc. is a leading specialty retailer offering clothing, shoes, and accessories for missy and plus-size women and tween girls, under the Justice, Lane Bryant, maurices, dressbarn and Catherines brands.

Ascena Retail Group, Inc. operates through its subsidiaries approximately 3,900 stores throughout the United States, Puerto Rico and Canada

Ascena Retail Group