This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Ascena Retail Group, Inc. Reports First Quarter 2013 Results

On a reported basis, operating income for the first quarter of Fiscal 2013 decreased to $72.9 million, or 6.4% of sales, compared to $76.5 million, or 10.0% of sales last year. However, on an adjusted basis, operating income for Fiscal 2013 increased to $99.2 million, or 8.7% of sales. The decrease in operating income as a percent of sales on an adjusted basis was due largely to the initial increase in SG&A associated with the Charming Acquisition.

Fiscal First Quarter Balance Sheet Highlights

The Company ended the first quarter of Fiscal 2013 with cash and investments of $136.9 million and total debt of $304.7 million, compared to $168.9 million of cash and investments and $326.6 million of debt at the end of Fiscal 2012.


David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “We are pleased to have begun the fiscal year with a strong quarter. We exceeded our financial and operational plan and made good progress with respect to the integration of our most recent strategic acquisition. We remain confident that the Lane Bryant and Catherines brands will become important value drivers for our shareholders over the long-term.”

Mr. Jaffe continued, “While we remain generally optimistic, the bulk of the Holiday retail season remains in front of us. Also during the upcoming weeks, we look forward to additional clarity regarding the current fiscal and macroeconomic uncertainty that could affect consumers in the coming year. At present, we remain comfortable with our previously issued guidance for the full year and look forward to updating our view of the business following the holiday season.”

Mr. Jaffe concluded, “We are confident that we have positioned our business well and that our unique combination of fashion and value will continue to resonate with a wide range of consumers. Over the coming quarters, we are excited to make steady progress on a variety of initiatives to fully integrate our brands, streamline their common infrastructure, and develop operational and financial synergies.”

3 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs