Ascena Retail Group, Inc. Announces Holiday Sales Results And Lowers Fiscal 2013 Earnings Per Share Guidance

Ascena Retail Group, Inc. (NASDAQ – ASNA) today announced sales results for the combined November and December Holiday period ended December 29, 2012. 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 27, 2013.

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
     

Comparable

Store Sales
Justice

5%
Lane Bryant* (9%)
maurices (2%)
dressbarn (8%)
Catherines* 4%
Total Company (2%)
 
E-commerce comparable sales 30%

Combined store and

e-commerce comparable sales

1%
 

*Comparable store sales for Lane Bryant and Catherines include sales for all stores that were open in both that period and the comparative period in the prior year.

David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “The Holiday selling season proved to be challenging and we increased promotional activity in order to ensure appropriate inventory levels going forward. We are taking the necessary markdowns in the second quarter to effectively transition into the spring season. As a result, we now believe full year adjusted diluted earnings per share guidance in the range of $1.20 to $1.30 is more appropriate, versus our previous guidance of $1.45 to $1.55.”

If you liked this article you might like

Closing Bell: FAANG Stocks Take Another Hit; Tech Selloff Extends Into Day Two

Nasdaq Lower as Tech Selloff Extends Into Day Two

5 Things You Must Know Before the Market Opens Monday

Week Ahead: You Won't Hear Much From the Fed Before the Central Bank's Rates Meeting