The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Financial Markets

Ascena Retail Beats 3Q Profit Forecasts

Ascena Retail Group Inc. has reported fiscal third-quarter earnings of $15 million.

Dress Barn, part of Ascena Retail Group | Source: Shutterstock

Associated Press

31 May 2016

MAHWAH, United States — Ascena Retail Group Inc. on Tuesday reported fiscal third-quarter earnings of $15 million.

The Mahwah, New Jersey-based company said it had net income of 8 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 15 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The owner of clothing retail chains posted revenue of $1.67 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.75 billion.

Ascena Retail expects full-year earnings in the range of 67 cents to 70 cents per share, with revenue expected to be $7.1 billion.

Ascena Retail shares have dropped 27 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.22, a decrease of 52 percent in the last 12 months.

In This Article

Topics

Financial Markets

Organisations

Ascena Retail Group

Location

Mahwah, United States

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.

The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.

Birkenstock Could Break Fashion’s IPO Logjam

A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.

The Investment Giant Behind Some of Fashion’s Biggest Deals

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.