US: Ascena Retail posts 8% Q3 profit hike
- Q3 profit up 8% to $51.8m
- Net sales rose 9% to $722.8m
- Comparable store sales increase 6%
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.
"In each of our concepts, we have focused on providing a compelling value proposition to consumers, the success of which is reflected by our continued, across-the-board comparable store sales increases," said CEO David Jaffe.
"As we go forward, we are mindful that today's consumer is under increasing pressure. We are confident that we have struck the right balance of merchandise and pricing and will continue to do so."
By division, same-store sales increased 4% at Dressbarn, rose 11% at Maurices, and climbed 3% at Justice.
The company, which operates 2,500 stores, reaffirmed its full year guidance for earnings in the range of $2.28 to $2.33.
Ascena Retail Group Inc, operator of the Dressbarn, Maurices and Justice stores, has named John Sullivan to the newly created position of executive vice president and chief operating officer....
Ascena Retail Group Inc, operator of the Dressbarn, Maurices and Justice stores, says one-time charges and an accounting change that cut a week off its reporting calendar are to blame for a fall in fo...
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