- Prachi Singh |
Ascena Retail Group, for its fiscal third quarter ended April 25, 2015 reported earnings from continuing operations of 0.15 dollars per diluted share compared to 0.22 dollars in the same period of fiscal 2014. Adjusted earnings from continuing operations were 0.18 dollars per diluted share, compared to 0.27 dollars in the prior year’s third quarter.
Commenting on the results, David Jaffe, President and Chief Executive Officer of Ascena Retail Group, said, “Looking back on the third quarter, we saw strong performance at Lane Bryant, maurices, and Catherines, and are excited about the major marketing initiatives that were launched this quarter at Lane Bryant and dressbarn. While dressbarn performance was softer than expected in the third quarter, we remain confident in the momentum being built.”
Net sales for the third quarter increased 0.5 percent to 1.150 billion dollars, compared to 1.145 billion dollars in the third quarter of fiscal 2014, as new store growth at maurices and positive combined comparable sales at Lane Bryant, maurices, and Catherines was offset by negative combined comparable sales at Justice and dressbarn.
Gross margin was 675.1 million dollars, or 58.7 percent of sales compared to 657.7 million dollars, or 57.4 percent of sales in the third quarter of last year. The company has reaffirmed guidance for adjusted earnings per diluted share from continuing operations in the range of 0.70 dollars to 0.75 dollars for the fiscal year ending July 2015. The company now expects flat to modest negative combined comparable sales performance for the year.