Ascena Retail Group, Inc. (NASDAQ:ASNA) today announced sales results for the combined November and December Holiday period ended December 28, 2013. The Company also announced that, due to lower than planned Holiday sales, it is lowering earnings per share guidance for its current fiscal year ending July 26, 2014.
The Company noted that combined comparable store and e-commerce sales for the fiscal months of November and December increased 1% on a consolidated basis. The Company’s comparable store and e-commerce sales data is summarized below:
|Combined Fiscal November and December|
David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “A challenging Holiday selling season resulted in increased promotional activity. We successfully cleared excess inventory and have taken the necessary markdowns in the second quarter to transition cleanly into the spring season. As a result, we now believe full year adjusted diluted earnings per share guidance in the range of $1.10 to $1.15 is more appropriate, versus our previous guidance of $1.25 to $1.30.”