MAHWAH, N.J.--(BUSINESS WIRE)--Jan. 11, 2016--
ascena retail group, inc. (NASDAQ – ASNA) (the “Company”) today
announced consolidated comparable sales decreased 4% over the Holiday
period, which represents performance from Saturday, November 21, 2015
through Sunday, January 3, 2016. The Company also reaffirmed its full
year EPS guidance range of $0.75 to $0.80 for the 52-week period ending
July 23, 2016.
Total Comparable Holiday Sales*
* Figures include ecommerce on a demand basis
David Jaffe, President and CEO, commented, “The Holiday period for
specialty retail was marked by soft traffic and unseasonably warm
conditions, and was highly competitive. Excluding the planned decline at Justice,
consolidated comparable sales were flat to last year.”
Jaffe further commented, “Consistent with performance over the Black
Friday week, performance was mixed across our portfolio through the
holiday period. We were very pleased with the positive comp trend that
we continue to see at Lane Bryant. Inventory levels were down
significantly to last year across our ANN Brands and at Justice,
which helped drive significant gross margin rate improvement. Justice’s
negative comp sales performance was in line with our expectations, and
the brand is set up well for the upcoming transition to Spring. Our maurices
and Catherines brands faced very strong performance last year,
with compounded two-year growth up high single digits at both brands.
Finally, we saw a modest improvement in trend at dressbarn, with
roughly flat comp performance over a two year period.”
Jaffe concluded, "We remain comfortable with our full year outlook, and
are reaffirming our earnings per share guidance range of $0.75 to $0.80.
We were a bit disappointed with our overall Holiday sales performance,
and expect second quarter earnings per share will be below the $0.02 we
had guided to at our December earnings call. We now see second quarter
earnings per share between breakeven and ($0.03). However, inventories
are very well controlled across ascena as we transition into the Spring
season, and we are pleased with the continuing turnaround at Justice."
About ascena retail group, inc.
ascena retail group, inc. (NASDAQ: ASNA) is a leading national
specialty retailer offering clothing, shoes, and accessories for missy
and plus-size women under the Ann Taylor, LOFT, Lou & Grey, Lane
Bryant, Cacique, maurices, dressbarn, and Catherines brands,
and for tween girls under the Justice brand. ascena retail
group, inc. operates, through its 100% owned subsidiaries, ecommerce
operations and approximately 5,000 stores throughout the United States,
Canada and Puerto Rico.
For more information about ascena retail group, visit ascenaretail.com,
AnnTaylor.com, LOFT.com, louandgrey.com, lanebryant.com, cacique.com,
maurices.com, dressbarn.com, catherines.com, and shopjustice.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160111006569/en/
Source: ascena retail group, inc.
James Palczynski, 203-682-8229