US: Ascena raises full-year earnings guidance
Stronger than expected sales and margins during the holiday season have prompted Ascena Retail Group Inc - formerly The Dress Barn - to raise its full year earnings guidance.
The company, which operates the Dressbarn, Maurices and Justice brands, now expects earnings per share in a range of $2.20 to $2.25 for the fiscal year ending 30 July. This is up from previous guidance of $2.05 to $2.15.
"We were very pleased with our sales and margin performance at each of our brands over the important holiday season," explained president and CEO David R Jaffe.
"With overall stronger than expected comp sales, we sustained our full-priced sell through rates and outperformed our expectations through excellent profitability. This was particularly true for Maurices, which led our performance during the holiday season."
The company also noted that comparable store sales for the holiday season (from Thanksgiving Day to 2 January) increased 7% on a consolidated basis. By brand, Dressbarn increased 4%, Maurices increased 16% and Justice increased 4%.
Teen apparel retailer Ascena Retail Group Inc has posted an 8% rise in third quarter profit thanks to solid gains across its Dressbarn, Maurices and Justice brands....
The World Federation of the Sporting Goods Industry (WFSGI) has signed up to the Fair Factories Clearinghouse (FFC), an industry-wide initiative that aims to improve working conditions and compliance ...
- Yuan devaluation impact mixed for garment firms
- Chaos in the world’s trade agreements
- Supply chain improvements to save Billabong $30m
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- H&M scaling up living wage effort to key suppliers
- Myanmar approves first minimum wage
- US Q2 in brief: Genesco, Oxford, Sears Canada
- EU clothing buyers should brace for higher prices
- Vietnam apparel industry calls for lower wage
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Ethiopia – the emerging textile and clothing industry
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Global Sports Footwear Market 2015-2019