Home / Knowledge / News / Apparel/Garments / Ascena Retail Q3'FY14 adjusted EPS up 3.8%
Ascena Retail Q3'FY14 adjusted EPS up 3.8%
04
Jun '14
Ascena Retail Group, Inc. reported financial results for its fiscal third quarter ended April 26, 2014.
 
Highlights:
-GAAP EPS $0.20; Adjusted EPS $0.27 
-Total Comparable Sales (1%) 
-Fiscal 2014 EPS Guidance Reaffirmed Between $1.00 - $1.05 
 
For the third quarter of Fiscal 2014, earnings from continuing operations were $0.22 per diluted share. This compares to earnings from continuing operations of $0.20 per diluted share in the same period of Fiscal 2013. Adjusted earnings from continuing operations in the third quarter of Fiscal 2014 were $0.27 per diluted share, compared to $0.26 per diluted share in the prior year’s third quarter. 
 
Growth in diluted earnings per share came from improved gross margin rate performance, which was mostly offset by increases in Buying, Distribution and Occupancy (“BD&O”) costs and Selling, General and Administrative (“SG&A”) expenses. 
 
David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “Third quarter EPS was above our expectations and slightly above last year primarily due to lower than anticipated SG&A and tax expense. Q3 sales were challenging, and that trend continued into the start of Q4. As a result, we are implementing promotional strategies and receipt flow adjustments to ensure our inventories are conservatively positioned for the Fall season.”
 
Jaffe further commented, “We continue to make good progress on our longer range strategic priorities. Four of our five brands are now operating in our retail distribution center in Ohio, and we expect all brands to be operating out of that DC by Fall, on schedule. In addition, our new e-commerce fulfillment center opened in the third quarter and we are on track to migrate all brands into operations in that facility by Spring of calendar 2015.”
 
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 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner
Devereux

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

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

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:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search