Ascena Retail Results Miss Estimate; Outlook Weak - Quick Facts

(RTTNews) - Apparel and accessories retailer Ascena Retail Group Inc (ASNA) Monday reported fourth-quarter net earnings of $15.7 million or $0.10 per share, compared with $29.8 million or $0.18 per share last year.

Excluding items, adjusted earnings for the quarter were $0.13 per share, compared with $0.34 per share a year ago.

Revenues for the quarter were $1.18 billion, compared with $1.20 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.18 per share on revenues of $1.21 billion for the quarter. Analysts' estimates typically exclude special items.

"Despite mixed results across our portfolio and continuing soft traffic patterns, fourth quarter EPS was in line with our expectations. We have yet to see sustained evidence of market improvement, and as a result, are maintaining a conservative outlook as we enter the Fall season," said David Jaffe, CEO of Ascena Retail.

Looking ahead to the fiscal year 2015, the company expects adjusted earnings of $0.90 to $1.00 per share, while analysts expect $1.25 per share.