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 28th Apr 2016

India clarifies position on export subsidies on cotton

The government has clarified India is not a major user of the export...

Textiles | On 28th Apr 2016

Pakistan’s Commerce Ministry to fund textile research

The Pakistani government has said that it would fund the research...

Courtesy: Pacific Brands

Apparel/Garments | On 28th Apr 2016

HanesBrands to buy top Aus underwear co Pacific Brands

HanesBrands, a leading worldwide marketer of underwear, intimate...

Interviews View All

Nick Preston
Hardy Amies

What are the popular apparel fashion trends in UK? Why do you think is the ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

What is the influence of foreign trends and designs on Indian fashion?

Dinaz Madhukar
DLF Emporio and DLF Promenade

How do you see the competition from e-stores? What is the marketing...

Giorgio Mantovani
Corman S.p.A

<b><i>Giorgio Mantovani, MD of Corman, with a presence in both Milano and...

Mr. Anant Kanoi
TechFab India Industries Ltd

Mr. Anant Kanoi is the Managing Director of TechFab India Industries Ltd....

Eamonn Tighe
Nature Works LLC

<b><i>Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search