Ascena Group reports positive quarterly net
Monday, December 05, 2016
Ascena Retail Group, Inc. (ASNA), parent company of Duluth-based Maurices, reported fiscal first quarter net sales of $1.678 billion compared to $1.672 billion in the year-ago period. Maurices’ net sales totaled $272.2 million compared with $282.7 million during the comparable year-ago period.
Ascena reported net income of $14 million, or 7 cents per diluted share, in the first quarter compared with a net loss of $18 million last year, or 10 cents per diluted share. Net income for the first quarter of fiscal 2017 reflects lower purchase accounting adjustments and acquisition and integration costs, which were offset in part by the lower comparable sales performance.
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