Ascena Retail Group (ASNA) Warns for Q3, FY
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ascena retail group Provides Fiscal Q3 and Full Year 2017 Guidance Update; Identifies Significant Upside to “Change for Growth” Cost Savings Target; Announces Expected Non-Cash Goodwill and Intang
May 17, 2017 4:08 PM EDTMAHWAH, N.J.--(BUSINESS WIRE)-- In response to the rapidly evolving retail environment, ascena retail group, inc. (NASDAQ: ASNA) (the Company) today announced updated third quarter and fiscal year 2017 guidance, along with a significant increase to its Change for Growth transformation program savings target.
David Jaffe, President and CEO, commented, Industry-wide traffic headwinds and a highly elevated promotional environment have persisted at levels significantly above our expectations, resulting in a miss to our third quarter sales and earnings outlook. We have adjusted our second-half outlook to reflect this environment and limited... More
