Ascena Retail Group, Inc. (NASDAQ:ASNA) issued fourth quarter financial results after market close today.
The company announced loss for the fourth quarter of $ 358.00 million or $ 1.81 per share, compared to income of $ 33.20 million or $ 0.17 per share for the year-ago quarter.
On adjusted basis, ASNA posted adjusted loss from continuing operation of $ 25.00 million or or $ 0.13 per share, while Wall street analysts are predicting, income of $ 0.03 per share
ASNA recorded net sales that down 4.30 percent to $ 1454.20 million from $ 1519.50 million in the same quarter last year
Analysts estimates are from Thomson Reuters, exclude one time gain or loss.
Carrie Teffner, Interim Executive Chair, commented, We made pivotal changes in the back half of Fiscal 2019 as we exited our Value Fashion segment to focus on our brands where we see the biggest profitability potential.