Ascena Profit Misses Estimates; Reaffirms FY Earnings Guidance

(RTTNews) - Ascena Retail Group Inc (ASNA) on Tuesday reported third-quarter net earnings of $24.4 million or $0.15 per share compared with $33.2 million or $0.20 per share last year.

Excluding items, adjusted earnings for the quarter were $0.18 per share compared with $0.27 per share a year ago.

Revenues for the quarter grew a modest 0.5% from last year to $1.5 billion.

Analysts polled by Thomson Reuters estimated earnings of $0.20 per share on revenues of $1.16 billion for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales for the quarter, including ecommerce sales, fell 1% in the quarter.

For the full year 2015, the company still expects adjusted earnings of $0.70 to $0.75 per share, while analysts expect $0.71 per share.

The company said it is now modeling flat to modest negative combined comparable sales performance for the year.