Tuesday, December 11, 2018

Ascena Retail Group Q1 income, sales beat Street

Chain Store Age
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

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