Gross margin for the second quarter of Fiscal 2013 increased to $662.1 million, or 53.5% of sales, compared to $477.3 million, or 55.4% of second quarter sales last year. The gross margin rate decline of 190 basis points was primarily due to lower margins associated with increased markdowns and promotional activity, particularly at dressbarn.Buying, distribution and occupancy (“BD&O”) costs for the second quarter of Fiscal 2013 were $198.1 million, or 16.0% of sales, compared to $129.4 million, or 15.0% of second quarter sales last year. The 100 basis point increase was primarily due to the inclusion of Lane Bryant and Catherines, which have a higher BD&O expense as a percent of sales compared to the ascena legacy brands.
Ascena Retail Group, Inc. Reports Second Quarter 2013 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts