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    The Shrinking Global Women'S Clothing Market Has Made The Biggest Group In North America Look Bleak.

    2016/9/22 16:46:00 64

    Ascena Retail Group IncWomen'S Wear GroupGlobal Women'S Wear

      

     Ascena

    The expected profit and the sluggish outlook for the current fiscal year are the biggest in North America.

    Women's clothing group

    The shares of Ascena Retail Group Inc. (NASDAQ:ASNA) on Monday after the four quarter and annual report were down more than 20%, reaching 24%.

    As of July 30, 2016, Ascena Retail Group Inc recorded a net profit of $13 million 800 thousand in the fourth quarter of fiscal year 2016, and 0.07 earnings per share of $13 million 800 thousand. After adjustment, EPS also recorded only $0.08, far less than the expected $0.17 of Zacks Investment Research.

    In the two quarter, the group's revenue was $18.123 billion, which was 54.9% higher than the 1 billion 169 million 800 thousand US dollars in the same period last year, which is also higher than the Zacks's expected US $1 billion 780 million.

    Excluding the takeover of women's clothing company Ann Inc., the fourth quarter group store sales fell by 4%.

    During the period, the sales of Justice brand, maurices brand, dressbarn brand and Catherines brand were 4%, 9% and 7% respectively.

    Lane Bryant

    Same store sales increased by 1%, while Ann Inc. sales fell by 6%.

      

    Ascena Retail Group Inc

    Group Chairman and chief executive officer David Jaffe said that the 2016 fiscal year was a challenging year. The highly competitive competition between the competitors, the decline in passenger traffic, and the extreme contrast between the peak and low demand of customers resulted in a much lower than expected four quarter performance.

    He also said that the improvement of Justice's brand and the synergy of acquisitions will lay the foundation for the pformation of the group.

    For the sluggish performance, David Jaffe has maintained the mainstream view of the industry: increased consumer spending on travel, automobile and other consumer spending, and reduced spending on clothing and fashion categories, in addition to facing a depressed economy.

    Consumer

    Savings will increase and consumption will be prudent.

    During the fourth quarter, Ascena Retail Group Inc. recorded a gross margin of 57.5%, a 310 basis point improvement.

    In the 2016 fiscal year, Ascena Retail Group Inc. revenue rose 45.6% to 6 billion 995 million 400 thousand US dollars; net loss was 1190 US $10000, plus a loss of 0.06 US dollars per share.

    As of July 30, 2016, the company operates 4906 stores.

    For the current fiscal year outlook, Ascena Retail Group Inc. is expected to adjust EPS to US $0.60 -0.65 US $2016, and sales are expected to remain unchanged in fiscal year 2016; actual EPS is expected to be US $0.46 -0.51 US dollars, with sales expected to be US $6 billion 900 million US $200 billion.

    Far below Thomson Reuters's expected $0.83 EPS forecast and $7 billion 170 million revenue forecast.

    The share price of Ascena Retail Group Inc. (NASDAQ:ASNA) rose 8.12 on Monday, rising 1.88%, but the stock has fallen 18% this year, and it has slumped 40% in the past year.


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