Wed, Sep. 16, 1:08 PM
- Ascena Retail Group (ASNA +8.5%) trades higher after easing past estimates with its FQ4 report
- The company's gross margin rate fell 20 bps to 54.5% during the period.
- Justice and Lane Bryant had a difficult quarter, while Lane Bryant and Catherines were strong.
- Looking ahead, synergies from Ann and a new operating model at Justice are expected to boost results.
- The company expects FY16 revenue of $4.78B-$4.84B (ex-ANN acquisition).
Wed, Sep. 16, 7:40 AM
Tue, Sep. 15, 5:30 PM
Fri, Jul. 10, 4:45 PM
- Ascena Retail (NASDAQ:ASNA) now expects FY15 (ends in July) EPS of $0.57-$0.60, below prior guidance of $0.70-$0.75 and a $0.70 consensus. Adjusted EBITDA guidance is now at $365M-$375M.
- The apparel retailer is also taking a $275M-$325M asset impairment charge at Lane Bryant, and a $50M pre-tax charge related to creating a reserve for Justice class-action litigation.
- The guidance cut is blamed on a merchandise transition at Justice - CEO David Jaffe says the new guidance reflects "a more complete exit from the existing seasons merchandise mix" - and "lower than expected top-line performance at Justice and dressbarn."
- In response to dressbarn's performance, Ascena is "making adjustments to [its] Fall value pyramid," and is upping its Fall season marketing spend.
- Shares have fallen to $15.22 AH.
Tue, Jun. 2, 4:07 PM
Mon, Jun. 1, 5:35 PM
Fri, May 22, 7:59 AM
- Ann (NYSE:ANN) reports comparable-store sales fell 1.5% in Q1.
- The company says sales were weak in February before improving in March and April.
- Comp growth by brand: Ann Taylor -2.6%, Ann Taylor Factory -14.5%, LOFT -0.7%, LOFT Outlet -0.2%.
- Gross margin rate -110 bps to 52.3%.
- SG&A expense rate -140 bps to 47.5%.
- Total inventory per square foot +3% Y/Y.
- Store count +2 Y/Y to 1,034.
- Ann was acquired by Ascena Retail (NASDAQ:ASNA) last week.
- Previously: ANN beats by $0.04, misses on revenue
Tue, Mar. 3, 4:04 PM
Mon, Mar. 2, 5:35 PM
Dec. 2, 2014, 4:05 PM
Dec. 1, 2014, 5:35 PM
Sep. 22, 2014, 4:07 PM
Sep. 21, 2014, 5:35 PM
Jun. 3, 2014, 4:04 PM
Jun. 2, 2014, 5:35 PM
Mar. 3, 2014, 4:16 PM
Ascena Retail Group Inc, through its subsidiaries, operates as a specialty retailer of apparel for women and tween girls and boys. The company offers apparel, accessories, footwear, and lifestyle products, such as bedroom furnishings and electronics.
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