Home / Knowledge / News / Apparel/Garments / Ascena Retail Q2 FY14 comparable sales stay flat
Ascena Retail Q2 FY14 comparable sales stay flat
04
Mar '14
Ascena Retail Group, Inc. reported financial results for its fiscal second quarter ended January 25, 2014.
 
For the second quarter of Fiscal 2014, earnings from continuing operations were $0.19 per diluted share. This compares to earnings from continuing operations of $0.23 per diluted share in the same period of Fiscal 2013. Adjusted earnings from continuing operations in the second quarter of Fiscal 2014 were $0.23 per diluted share, compared to $0.26 per diluted share in the prior year’s second quarter. 
 
Highlights: 
-GAAP EPS $0.19; Adjusted EPS $0.23 
-Total Comparable Sales Flat 
-Fiscal 2014 EPS Now Expected to Be $1.00 - $1.05 
 
The decrease in diluted earnings per share was primarily due to profit declines at Justice and increased operating expenses from growth-related investments in new stores, merchandising/design resources and e-commerce capability. 
 
David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “Second quarter net income was slightly above our revised expectations, despite softer than expected sales in January driven primarily by challenging weather that continued to negatively impact sales into early March.
 
However, in warmer regions sales have been in line with expectations. We are implementing promotional strategies and receipt flow adjustments to bring inventory balances back to targeted levels.”
 
Jaffe further commented, “We made very good progress on our longer range strategic priorities during the quarter, including our synergy initiatives, which will position the business for long term growth. We have completed construction of our new national retail distribution center and are on track to go live this spring at our new e-commerce fulfillment center.”
 
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 under the Lane Bryant, Cacique, maurices, dressbarn and Catherines brands; and for tween girls and boys, under the Justice and Brothers brands. Ascena Retail Group, Inc. operates through its subsidiaries approximately 3,900 stores throughout the United States, Puerto Rico and Canada.
 

Ascena Retail Group


Must ReadView All

Courtesy: Swedfund

Textiles | On 27th May 2016

Swedfund to pilot new textile factory in Ethiopia

Swedish govt-owned development financier Swedfund and the Bangladeshi ...

Textiles | On 27th May 2016

Egypt signs deal with China to set up textile zone

Egypt and China signed a framework agreement earlier this week on to...

Textiles | On 27th May 2016

CAI pegs cotton output at 341.5 lakh bales this season

The Cotton Association of India (CAI) has projected India’s cotton...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

How is the man-made fibre (MMF) industry shaping up? How is Mangalam...

Amrit Sethia
SOIE

What are the emerging trends in the intimatewear category for women in...

Dharmendra Shah
Ozone PB Spintex Limited

How has the Indian spinning industry fared in the last two years? What...

Kevin Nelson
TissueGen

<b><i>Kevin Nelson, Chief Scientific Officer, TissueGen discusses the...

Paolo Ocleppo
Sandvik Hyperion

<b><i>Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Robert Brunner
Devereux

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

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

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
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search