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Monday, March 5, 2018

=Ascena Retail Group (ASNA) reported earnings on Mon 5 March 2018 (a/h)



Ascena Retail Group misses by $0.03, beats on revs; guides Q3 EPS below consensus, revs in-line 
  • Reports Q2 (Jan) loss of $0.12 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus of ($0.09); revenues fell 1.7% year/year to $1.72 bln vs the $1.65 bln Capital IQ Consensus
    • The decline in sales was primarily attributable to a 2% comparable sales decline that resulted primarily from merchandise strategy challenges and store traffic declines at its Value Fashion segment, and assortment misses at our Premium Fashion segment, partially offset by high single digit comparative sales growth at its Kids Fashion segment
    • Net sales for the second quarter included ~$25 million associated with the extra week discussed above
  • Co issues downside bottom line guidance for Q3, sees EPS of (0.12)-(0.07), excluding non-recurring items, vs. $0.06 Capital IQ Consensus Estimate; sees Q3 revs of $1.48-1.52 bln vs. $1.49 bln Capital IQ Consensus Estimate.

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