Ascena reports positive Q2FY15

Based in United States of America, clothing retailer Ascena, which operates brands such as Ann Taylor, Dressbarn, Lane Bryant, and Justice, has reported that sales for the second quarter of the current fiscal year were US $ 1.8 billion, up from US $ 1.2 billion in the same period last year.

The increase in sales is the result of the acquisition of Ann Inc., which added about 1,000 Ann Taylor, Loft and Lou & Grey stores to Ascena’s portfolio. At present, the apparel retailer operates close to 5,000 stores.

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During the period under review, adjusted earnings were 1 cent a share, compared to a loss of 2 cents. Comparable store sales companywide too dived by 6 per cent as against the corresponding period last year. The Justice brand of the company witnessed plunge in sales by 17 per cent. However, the Lane Bryant plus-size brand managed to do well and noted 2 per cent zoom in sales.

All-in-all, Ascena observed a second-quarter loss of 12 cents a share, or US $ 22.6 million, as against net income of 5 cents a share, or US $ 8.7 million a year ago. The gross margin increased to 52 per cent from 51.4 per cent. The company also reported a 43 per cent surge in the Holiday Season revenue, the period when most of the retailers across the globe noticed heavy drop in sales.