Ascena Retail: Gross Margin Improvements Not Outrunning Woeful Comps
Is Ascena The Rare Exception To The Retail Turnaround Rule?
Wed, Aug. 17, 2:49 PM
- Shares of Ascena Retail Group (ASNA +1.1%) have been tracking higher this week after a review of 13F filings showed that money managers increased their positions in the stock during Q2.
- Most notable was the extra buying from Stadium Capital Management which took its position up to a 7.63% stake.
- Women's Wear Daily reports that 101 firms increased their position in Q2 to outpace the 78 that lightened up.
- ASNA is up 11% for the week.
Thu, Aug. 11, 9:59 AM
- The retail sector is racking up sizable gains after Macy's set the table with a major store closing announcement (15% of full-line stores).
- Earnings beats at Macy's and Kohl's, along with a surprise upgrade on American Eagle Outfitters (AEO +4.6%) are also helping to boost sentiment.
- Notable gainers include Guess (GES +4.3%), Dillard's (DDS +5.8%), Ascena Retail Group (ASNA +4.6%), Stage Stores (SSI +7.7%), Sears Holdings (SHLD +4.6%), Gap (GPS +3.5%), Abercombie & Fitch (ANF +3.2%), Barnes & Noble (BKS +3.2%), Urban Outfitters (URBN +1.3%), Francesca's (FRAN +2.5%), DSW (DSW +3.5%), Pier 1 Imports (PIR +4%), and Finish Line (FINL +2.4%).
- The S&P 500 Retail ETF (NYSEARCA:XRT) is up 2.1% on the day off the chain store buzz.
- Retail ETFs: XLY, XRT, VCR, RTH, RETL, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, JHMC, CNDF
Tue, Aug. 9, 1:36 PM
- There's a dark mood in the apparel store sector after Gap (GPS -6.4%) spilled its July sales numbers.
- The retailer's 4% drop in comparable store sales for the month missed the -1% mark expected by analysts by a wide margin. Gap had raised hopes for a retail sector comeback with a return to a positive comp in June before the July disappointment.
- On a prerecorded sales call (855-500-0477 participant code 7405599), Gap management dropped a discouraging nugget: "We’re maintaining a cautious view of the retail environment in the second half."
- As a bit of a bellwether, the outlook from Gap is resonating across the retail sector. There's also a cut on same-store estimates for Target from Cleveland Research which could be drawing some attention.
- Retail decliners: Tailored Brands (TLRD -5.5%), Ascena Retail Group (ASNA -4.7%), Express (EXPR -4.4%), Citi Trends (CTRN -3.3%), Buckle (BKE -3.4%), Cato (CATO -3.3%), American Eagles Outfitters AEO, Abercrombie & Fitch ANF, Chico's FAS (CHS -2.6%), Kohl's (KSS -3.7%), Dillard's (DDS -2.9%), Macy's (M -2.4%), Fred's (FRED -3.3%), Target (TGT -3.1%), Tuesday Morning (TUES -1.5%), L Brands (LB -1.9%), Christopher & Banks (CBK -2.6%).
Wed, Jun. 1, 9:14 AM
Tue, May 31, 5:37 PM
Thu, May 19, 2:54 PM
- A number of retail stocks are higher than market averages after Wal-Mart, Dick's, and American Eagle Outfitters all surprise on the upside with earnings.
- Though consumers are clearly adjusting some of their spending habits, companies well-positioned are holding their own (groceries for WMT, bralettes for AEO, and golf for Dick's) compared to expectations.
- Today's movers include Boot Barn (BOOT +7.4%), Ascena Retail Group (ASNA +5.5%), Chico's FAS (CHS +5.8%), Cato (CATO +5.2%), Abercrombie & Fitch ANF, Express (EXPR +4.2%), and Foot Locker (FL +2.4%).
Fri, May 13, 11:25 AM
- Some beat-up mall stocks have overcome a sputtering start to move solidly higher. The names seemed to have reacted to a red-hot read on consumer sentiment from the Reuters/UofM survey.
- Recovery modef: Kohl's (KSS +7.9%), Macy's (M +3%), Dillard's (DDS +2.5%), Gap (GPS +2%), JC Penney (JCP +1.8%), Ascena Retail (ASNA +3.1%), and Christopher & Banks (CBK +2.5%).
- Previously: Retail sales: Consumers spending, just not where they used to (May 13)
- Previously: Retail sales dazzle, retail stocks not so much (May 13)
Thu, May 5, 10:59 AM
- Apparel store stocks trade lower after one of its stalwarts takes it on the chin. L Brands (NYSE:LB) is down 10.5% with even the resilient Victoria's Secret business showing signs of weakness.
- Notable decliners include Urban Outfitters (URBN -3.4%), Guess (GES -3.7%), Francesca's (FRAN -1.8%), Gap (GPS -2.6%), Genesco (GCO -2.8%), Ascena Retail Group (ASNA -3%), Express (EXPR -2%), and Chico's FAS (CHS -2.4%).
- Buckle (BKE -5.8%) and Abercombie & Fitch (ANF -4.5%) are also down, with the former reporting weak April sale and the latter losing an exec on top of the L Brands development.
Fri, Apr. 8, 10:17 AM
- Apparel stocks are getting hammered after Gap's latest monthly sales dud creates a new ripple of worry.
- There's a little bit of a failed feedback loop going on in the sector as teenagers/young adults skip mall visits to spend on other categories while sellers try to innovate their way out of the box. That innovation is leading to excess inventory which in turn leads to more painful discounting
- Decliners include Lululemon (LULU -1.7%), Kate Spade (KATE -1.4%), Deckers Outdoor (DECK -2.5%), Coach (COH -1.6%), Michael Kors (KORS -2.1%), Columbia Sportswear (COLM -1.8%), Carter's (CRI -1.8%), Hanesbrands (HBI -1.3%), Ascena Retail (ASNA -3.9%), Nordstrom (JWN -3.4%), Chico's FAS (CHS -4.2%), Abercrombie & Fitch (ANF -4%), Urban Outfitters (URBN -2.6%), L Brands (LB -3%), Express (EXPR -2.4%), Guess (GES -2.9%), Tailored Brands (TLRD -1.9%) and Zumiez (ZUMZ -2.8%).
- Now read Sell Your Apparel Stocks
Tue, Mar. 1, 4:18 PM
- Ascena Retail Group (NASDAQ:ASNA): Q2 EPS of $0.01 beats by $0.02.
- Revenue of $1.84B (+42.6% Y/Y) misses by $40M.
- Shares +2%.
Mon, Jan. 4, 11:11 AM
- Ascena Retail Group (ASNA +2.6%) is solidly higher, despite today's sharp global market declines.
- Some late 2015 insider buying is helping to lift sentiment on the retail stock.
- Ascena isn't due to report FQ4 earnings until early March when the company's holiday period sales and Ann integration will be closely analyzed.
- SEC Form 4
Dec. 15, 2015, 5:41 PM
Dec. 15, 2015, 4:50 PM
- Ascena Retail (NASDAQ:ASNA) is higher after the company announced a new $200M share buyback program.
- The new plan replaces a prior authorization with a balance of $90M in it.
- Ascena says it will remain on track with commitments made to ratings agencies even with the extra buyback firepower.
- ASNA +4.6% AH.
Dec. 2, 2015, 10:15 AM
- Ascena Retail Group (ASNA +4.8%) trades higher after reporting a stronger bottom line than expected for FQ1.
- FQ1 comparable-store sales by brand: Justice -15%, Lane Bryant +4%, Maurices +7%, Dressbarn -5%, Catherines -1%.
- Comparisons of margin rates for the quarter were impacted by the acquisition of Ann. If some Ann-related purchase accounting adjustments are backed out, gross margin actually improved compared to a year ago despite pressured sales.
- The company calls its Black Friday/Cyber Monday performance "mixed" across its portfolio.
- Previously: Ascena Retail Group beats by $0.07, misses on revenue (Dec. 01 2015)
Dec. 2, 2015, 9:15 AM
Dec. 1, 2015, 5:34 PM
Ascena Retail Group, Inc. engages in the retail of women's clothing, shoes, and accessories stores. It operates through the following segments: Justice, Lane Bryant, Maurices, Dressbarn and Catherines. The Justice segment creates designs and develops its own exclusive Justice branded merchandise... More
Industry: Apparel Stores
Country: United States