Amid Major Restructuring, Ascena Posts Q4 Loss

Ascena Retail Group, persevering with to exit weak companies and evaluation the remainder of its model portfolio, on Thursday posted a fourth-quarter internet lack of $358 million, in contrast with a revenue of $33.2 million a 12 months in the past.
Comparable gross sales within the quarter ended Aug. three have been flat, although higher than anticipated, and complete gross sales have been $1.45 billion in comparison with $1.52 billion within the year-ago interval.
Nevertheless, the corporate stated it exceeded its expectations for adjusted working earnings, which got here in at $16 million.
The retailer additionally stated it accomplished the divestiture of the Maurices chain; that Dressbarn ought to have all of its shops closed by Dec. 31, and that stock ranges have been normalized and are positioned nicely for vacation. Ascena stated its money and revolver availability of $725 million on the finish of the fiscal 12 months was compliant with all covenants, offering liquidity.
“The company continues to consider options to optimize its balance sheet and liquidity from a position of strength,” stated Carrie Teffner, interim govt chairman, throughout a convention name Thursday. “We now have massive, iconic manufacturers in our enterprise with vital liquidity. Of the choices being thought-about, to be clear and avoidance of doubt, chapter of Ascena will not be one of many choices

Comply with Interneton Twitter or turn out to be a fan on Fb.

Amid Major Restructuring, Ascena Posts Q4 Loss 1 Learn Extra…

Do you like Aryabh's articles? Follow on social!

How's the Post?



Comments to: Amid Major Restructuring, Ascena Posts Q4 Loss

Log In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.


Write Story or blog.


Upload Status or Memes or Pics


Upload videos like vlogs.

More Formats

Coming Soon!

My Style

Your profile's Look

My Followers

People who follow you

My Interests

Your Posts Preference

My Bookmarks

Bookmarked Posts

My Following

People you follow


Your profile's Settings


Log out of Rapida

Sign In

Login to your Rapida Account


Create account on Rapida