Ascena Retail Group Earnings: Here’s Why the Stock is Rising Now
Ascena Retail Group, Inc. (NASDAQ:ASNA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 11.32%.
Ascena Retail Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.68% to $0.34 in the quarter versus EPS of $0.31 in the year-earlier quarter.
Revenue: Rose 27.49% to $1.2 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ascena Retail Group, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.21. It beat the average revenue estimate of $1.17 billion.
Quoting Management: David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “We were pleased to see sales trends improve across all brands in Q4. We remain on track to achieve our long range synergy targets and are positioning the business for long term growth by continuing to build infrastructure and add strong new talent.”
Key Stats (on next page)…