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

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Alessandro Zucchi; Courtesy: ACIMIT

Textiles | On 29th Jun 2017

Alessandro Zucchi succeeds Carabelli as ACIMIT president

The members’ assembly of the Association of Italian Machinery...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Nitin Bhatia
Trend Arrest

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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