Ascena’s financial results for its fiscal fourth quarter and full year ended July 28, 2012 reflect its acquisition of Charming Shoppes Inc. on June 14, 2012. Accordingly, operating results for those periods are not comparable to the prior year. In order to enhance comparability, adjusted results that exclude the effect of the Charming Acquisition have been presented to supplement the reported results for all periods of Fiscal 2012.
Fiscal Fourth Quarter Results
On a reported basis, income from continuing operations for the fourth quarter of Fiscal 2012 was $11.2 million, representing a decrease to the year-ago quarter’s income from continuing operations of $28.2 million. Earnings per share from continuing operations for the fourth quarter of Fiscal 2012 decreased to $0.07 per diluted share, compared to $0.18 of earnings per diluted share from continuing operations for the fourth quarter of Fiscal 2011.
Including the discontinued operations of the newly acquired Fashion Bug and Figi’s businesses, which are intended to be disposed of, net income for the fourth quarter of Fiscal 2012 was $1.6 million and earnings per diluted share was $0.01.
On an adjusted basis, income from continuing operations for the fourth quarter of Fiscal 2012 was $49.0 million, representing an increase to the year-ago quarter’s net income of $28.2 million. Adjusted earnings per share from continuing operations for the fourth quarter of Fiscal 2012 increased to $0.31 per diluted share, compared to $0.18 of earnings per diluted share on a reported basis for the fourth quarter of Fiscal 2011.
Net sales for the fourth quarter of Fiscal 2012 increased 29% to $939.7 million, compared to $725.8 million for last year’s fourth quarter on a reported basis. On an adjusted basis, net sales for the fourth quarter of Fiscal 2012 increased 8%. Such increase was largely driven by strong growth in sales from new stores and e-commerce, as well as an overall comparable store sales increase of 2%, led by Justice at 5%.
Consolidated comparable store sales include stores open for at least one year and do not include e-commerce sales results. The Company was pleased to note that e-commerce sales on an adjusted basis, which excludes Charming results, increased 49% to $39 million versus last year’s comparable period.
Click here to read more details:
Ascena Retail Group Inc
| On 12th Jun 2021
Gross domestic product (GDP) of the Group of 20 (G20) area returned...
| On 12th Jun 2021
Japan’s imports of clothing and accessories declined by 13.2 per cent ...
Setting the right targets for issues in play in locations, i.e.,...
India-EU FTA will provide EU with better access to a huge & rapidly...
Marry with brand ethos
Wearables have very limited reach
With the support of the first investors - Finland's Technical Research...
Founded by Chini Chouhan, her eponymous brand specialises in women's...
Dhirubhai & Arvind Shah
It supplies synthetic fabrics to top international brands like M&S,...
Arevo, based in Silicon Valley in California, develops technology to...
Seevix Material Sciences Ltd, which develops and manufactures synthetic...
Pranesh Sridharan & Berndt Koll
The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...
Gramin Vikas Evam Chetna Sansthan
Ruma Devi is a jet-setting promoter of artisans who has empowered...
Designer <b>Suman Nathwani</b> talks about her journey of opening a...
Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep
Established in 2012, Sarah & Sandeep is a luxury menswear label...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.