ascena retail group, Inc. Announces Holiday Sales Results; Updates Second Quarter Earnings Per Share Guidance
January 14 2019 - 8:00AM
Business Wire
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.
Segment
Comparable
Sales
Premium Fashion 12% Ann Taylor 7% LOFT 14%
Value Fashion 2% maurices 2% dressbarn 3%
Plus Fashion (8%) Lane Bryant (9%) Catherines
(3%)
Kids Fashion (Justice)
1%
ascena 3%
Results shown for holiday period, defined as
the weekend preceding Thanksgiving through New Year’s Day (11/17/18
- 1/1/19)
Quarter-to-date enterprise level comp sales are also up 3%.
David Jaffe, Chief Executive Officer commented, “We are pleased
to have delivered enterprise comp sales and margin growth over the
holiday period, although we continue to strive for more balanced
performance across our brands. Momentum continued at LOFT
and Ann Taylor, with strong product acceptance across both
brands driving double digit comp sales and margin growth at our
Premium segment. We are also pleased with performance at our Value
segment, with continued stabilization at maurices, and
positive inflection at dressbarn, which delivered high
single digit comp sales and margin growth in December.”
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 23 to 28 cents per share for the
quarter. We are pleased with top-line trends coming out of holiday,
and remain focused on building upon this momentum as we head into
the Spring season.”
About ascena retail group,
inc.
ascena retail group, inc. (Nasdaq: ASNA) is a leading
national specialty retailer offering apparel, shoes, and
accessories for women under the Premium Fashion segment
(Ann Taylor, LOFT, and Lou & Grey),
Value Fashion segment (maurices and
dressbarn), Plus Fashion segment (Lane Bryant,
Catherines and Cacique), and for tween girls under
the Kids Fashion segment (Justice). ascena retail
group, inc. operates ecommerce websites and approximately 4,600
stores throughout the United States, Canada and Puerto
Rico.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005364/en/
For investors:ICR, Inc.Jean FontanaManaging Director(646)
277-1214Jean.Fontana@icrinc.com
Jennifer DavisSenior Vice President(646)
677-1813Jennifer.Davis@icrinc.com
For media:ascena retail group, inc.Shawn
BuchananCorporate Communications(212)
541-3418shawn_buchanan@anninc.com
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