Ascena Retail reported earnings of 18 cents a share for the fiscal third quarter, below analysts' estimates of 20 cents a share for the quarter. Revenue grew 0.9% year over year to $1.15 billion for the quarter, compared to analysts' estimates of $1.16 billion.
Comparable store sales for the company fell 1% in the quarter. Retail comparable store sales fell 3%, while ecommerce comparable sales grew 13% in the quarter.
Ascena Retail expects to report earnings of 70 cents to 75 cents a share for fiscal 2015, which ends in July. Analysts expect the company to report earnings of 71 cents a share for the fiscal year.
TheStreet Ratings team rates ASCENA RETAIL GROUP INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ASCENA RETAIL GROUP INC (ASNA) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."