ascena retail group, Inc. Announces Holiday Sales Results; Updates Second Quarter Earnings Per Share Guidance
ascena retail group, Inc. (Nasdaq – ASNA) (the “Company”) today announced sales results for its holiday period, and updated its fiscal 2019 second quarter earnings per share guidance. Holiday comp sales were up 3%, as presented by segment and brand below.
|Kids Fashion (Justice)||
Results shown for holiday period, defined as the weekend preceding
Quarter-to-date enterprise level comp sales are also up 3%.
Jaffe continued, “These positive developments were offset by performance at our Kids and Plus segments. At our Kids segment, Justice store traffic slowed as we moved through the holiday period, requiring aggressive clearance activity to address its highly seasonal specialty assortment prior to Christmas. And at our Plus segment, we have made substantive changes to the Lane Bryant apparel assortment to address fashion missteps from our prior quarter, and believe we will be better positioned as we move into Spring.”
Jaffe concluded, “While we expect comp sales will be in line with our
second quarter guide, elevated clearance activity at our Plus and Kids
segments have pressured gross margin rate and as a result, we now expect
a loss of
About ascena retail group, inc.
For more information about ascena retail group, inc. visit: ascenaretail.com, AnnTaylor.com, factory.anntaylor.com, LOFT.com, outlet.loft.com, louandgrey.com, maurices.com, dressbarn.com, lanebryant.com, Catherines.com, and shopjustice.com.
Source: ascena retail group, Inc.
Senior Vice President
ascena retail group, inc.