Ascena Retail Q1 Profit Tops Estimate

(RTTNews) - Ascena Retail Group, Inc. (ASNA) reported net income for the first quarter of $53.5 million or $0.32 per share, compared to $52.6 million or $0.32 per share for the year-ago quarter.

Excluding items, adjusted earnings for the latest quarter were $0.28 per share.

Net sales for the first quarter declined to $1.194 billion from $1.196 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.26 per share on revenue of $1.19 billion for the first quarter. Analysts' estimates typically exclude special items.

The company reaffirmed its fiscal 2015 guidance for adjusted earnings per share from continuing operations in the range of $0.90 to $1.00. Analyst currently expect the company to earn $0.91 per share for the fiscal year 2015.