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Ascena Retail Group Q4 loss was $1.98 per diluted share

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Staff writer ▼ | September 17, 2015
Ascena Retail Group reported financial results for its fiscal fourth quarter and full year ended July 25, 2015. Q4 loss from continuing operations was $1.98 per diluted share compared to earnings from continuing operations of $0.10 per diluted share in the same period of Fiscal 2014.
Ascena
Ascena Retail Group   Adjusted earnings were $0.06 per diluted share
The Fiscal 2015 loss primarily reflects a $306 million impairment of goodwill and an intangible asset at Lane Bryant and an approximately $50 million accrual for costs related to the Justice pricing lawsuits.

Adjusted earnings from continuing operations for the fourth quarter of Fiscal 2015 were $0.06 per diluted share, compared to $0.13 per diluted share for the fourth quarter of Fiscal 2014.

For the full year Fiscal 2015, the Company reported a loss from continuing operations of $1.46 per diluted share as a result of the charges discussed above compared to earnings from continuing operations of $0.84 per diluted share in the same period of Fiscal 2014. Adjusted earnings from continuing operations for the full year Fiscal 2015 were $0.59 per diluted share, compared to $1.00 per diluted share in the prior year.

David Jaffe, President and Chief Executive Officer of ascena retail group, inc., commented, "Results for the quarter were challenged by two large, non-operating expense hits related to a goodwill and trade name impairment at Lane Bryant and litigation activity at Justice. On the operating front, Justice had a difficult quarter as expected, and dressbarn missed expectations due to assortment challenges.

"With all that said, we were pleased with fourth quarter performance at maurices, Lane Bryant, and Catherines. As we move into Fall, we are excited about the new Justice selling model, where back-to-school performance exceeded our expectations. And the team at dressbarn has been hard at work on merchandise refinement and Fall marketing to improve performance."


 

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