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
Textiles | On 21st Mar 2019
The Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme (ABP)...
Apparel/Garments | On 21st Mar 2019
TSG Consumer Partners, a leading private equity firm focused...
Apparel/Garments | On 21st Mar 2019
Leveraging the backbone of ABC Depot Logistics, the exclusive 3PL and ...
Textile & apparel industry
GST is a complicated and lengthy process
e-Commerce is still evolving fast with constant flux and surprises
‘There has been an increase in demand for water based inks, rather than...
<div>Italian company Tecnomeccanica Biellese specialises in planning and...
For.Tex is an Italy-based leading producer of dyes and thickeners, and is...
Kusumgar Corporates is a leading manufacturer of technical textiles and...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...
<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...
"We should not compare India and the West. There are things we do that...