Ascena Retail Group expects Q2 loss of 23 to 28 cents per share

Ascena Retail Group, Inc. reported 3 percent increase in holiday comp sales with comparable sales at Ann Taylor up 7 percent, at Loft, up 14 percent, with comparable sales at Maurices and Dressbarn up 2 percent and 3 percent respectively. Lane Bryant comparable sales were down 9 percent, Catherines, down 3 percent and comparable sales at Justice up 1 percent.

“We are pleased to have delivered enterprise comp sales and margin growth over the holiday period, although we continue to strive for more balanced performance across our brands. While we expect comp sales will be in line with our second quarter guide, elevated clearance activity at our Plus and Kids segments have pressured gross margin rate and as a result, we now expect a loss of 23 to 28 cents per share for the quarter,” said David Jaffe, Chief Executive Officer of Ascena Retail Group in a statement.

Picture:Facebook/Ann Taylor

 

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