This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ascena Retail Group, Inc. Reports First Quarter 2013 Results

Ascena Retail Group, Inc. (NASDAQ – ASNA) today reported financial results for its fiscal first quarter ended October 27, 2012.

Ascena’s financial results for its fiscal first quarter ended October 27, 2012 reflect its acquisition of Charming Shoppes, Inc. (“Charming”) on June 14, 2012 (the “Charming Acquisition”). In connection with the Charming Acquisition, the Company has incurred certain non-recurring purchase accounting costs and certain other acquisition-related integration and restructuring costs during its first quarter of Fiscal 2013. In addition, the first quarter of Fiscal 2012 also included certain non-recurring costs. Management believes that all of such costs are not indicative of the Company’s underlying operating performance. As such, adjusted results for the first quarter of Fiscal 2013, which exclude the effect of such acquisition-related costs and Fiscal 2012, have been presented to supplement the reported results for each period. Reference should be made to Note 2 to the unaudited consolidated financial statements included elsewhere in this release for a reconciliation of adjusted, non-GAAP financial measures to the most directly comparable GAAP financial measures.

Fiscal First Quarter Results

On a reported basis, income from continuing operations for the first quarter of Fiscal 2013 was $46.2 million, representing a decrease to the year-ago quarter’s income from continuing operations of $47.5 million. Earnings per share from continuing operations for the first quarter of Fiscal 2013 decreased to $0.29 per diluted share, compared to $0.30 of earnings per diluted share from continuing operations for the first quarter of Fiscal 2012. 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 first quarter of Fiscal 2013 was $43.1 million and earnings per diluted share were $0.27.

On an adjusted basis, income from continuing operations for the first quarter of Fiscal 2013 was $62.8 million, representing an increase to the year-ago quarter’s income from continuing operations of $51.7 million. Adjusted earnings per share from continuing operations for the first quarter of Fiscal 2013 increased to $0.39 per diluted share, compared to $0.33 of earnings per diluted share for the first quarter of Fiscal 2012.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs