NASDAQ-listed Ascena Retail Group Inc., a leading retailer of apparel for women and girls has witnessed a plunge in its earnings for the fourth fiscal quarter of 2014. Revenue from continuing operations has come down to US $ 0.10 per diluted share from US $ 0.23 per diluted share. In the same period, operating income reached the amount of US $22.5 million (1.9 per cent of sales), against US $ 58.3 million (4.9 per cent of sales). Ascena explains that tough tween market conditions at Justice and inventory-related issues have resulted in the fall. The company operates around 3,900 stores in the US and Canada.
