The parent company of such brands as Ann Taylor, Lane Bryant and Dressbarn started its fiscal year on a high note, fueled by strong sales at Ann Taylor, Loft and Justice.
Ascena Retail Group reported net income of $6 million in the quarter ended, compared to net income of $7 million in the year-ago period.
Net sales were a better-than-expected $1.592 billion compared to $1.590 billion. Total same-store sales rose 3%. By division, same-store sales rose 8% at premium fashion (Ann Taylor and Loft) and 12% at kids fashion (Justice). Same-store sales decreased 3% at value fashion (dressbarn and maurices) and 2% at plus fashion (Catherines and Lane Bryant). . . . more