Ascena Retail Group (ASNA) Reports Q1 EPS of $0.06, Revenues Beat; Offers 2Q19 EPS/Revenue Outlook, Offers FY19 EPS Outlook

Ascena Retail Group (NASDAQ: ASNA) reported Q1 EPS of $0.06, versus $0.00 reported last year. Revenue for the quarter came in at $1.59 billion versus the consensus estimate of $1.56 billion.

David Jaffe, Chairman and Chief Executive Officer of ascena retail group, inc., commented, “Our first quarter results represent another step forward in our journey to transform ascena into a more agile, profitable company. We delivered a 3% comparable sales increase, driven by strength at our Premium and Kids segments. Adjusted earnings per share of 6 cents came in at the top of our guide, driven by better than expected top-line growth.”

Jaffe continued, “We have built a solid foundation over the course of our transformation, consisting of new brand leadership and significantly enhanced enterprise capabilities. We\'ve strengthened this foundation through an enhanced understanding of our customer that we have developed from our recently launched customer insights initiative. We believe our efforts are beginning to produce positive results, and are focused on building upon our momentum."

Jaffe concluded, “In parallel with execution of strategic brand growth initiatives, we continue to evaluate all opportunities to increase shareholder value, including ongoing assessment of our brand portfolio, development of our platform capability to enable delivery of third party services, and potential new channels of distribution."

GUIDANCE:

Ascena Retail Group sees Q2 2019 EPS of ($0.25)-($0.15), versus the consensus of ($0.12). Ascena Retail Group sees Q2 2019 revenue of $1.675-1.705 billion, versus the consensus of $1.7 billion.

For earnings history and earnings-related data on Ascena Retail Group (ASNA) click here.

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