Ascena Retail Group Inc., which has a portfolio of retail chains that includes Ann Taylor and Loft, said plus-size appearance and pants were hot items during the best contempo quarter.
Ascena ASNA, 0.15% appear budgetary first-quarter net assets of $31.7 million, or 16 cents per share, up from $5.9 million, or 3 cents per allotment aftermost year. Aftermost year’s accumulation includes a 15 cents per-share account from discontinued operations.
Sales for the division totaled $1.30 billion, bottomward from $1.34 billion aftermost year. Same-store sales were collapsed overall. Ann Taylor same-store sales fell 1%, Loft same-store sales were bottomward 2%, Lane Bryant was up 2% and Justice kid’s appearance was bottomward 6%.
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Dressbarn, which will complete its abundance closures this month, had 10% same-store sales growth.
FactSet does not accept accord numbers for Ascena Retail, which bankrupt Tuesday at 44 cents.
The after-effects beatific Ascena shares aerial 29% in Tuesday premarket trading, admitting it concluded the day up 1.6%. Shares accept plummeted 85% over the accomplished year compared with a 19.2% access for the S&P 500 basis SPX, -0.27%.
Ascena Chief Executive Gary Muto said the aggregation has done added to accumulate abstracts about client behavior and preferences, which benefited the company’s plus-size business. Those names accommodate Lane Bryant and Catherines. Same-store sales at Catherines fell 5% during the division for 1% absolute plus-size articulation growth. That’s the aboriginal absolute same-store sales aftereffect in bristles quarters.
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“We saw the bigger allowances of these insights in the achievement of our additional business this quarter,” Muto said on the company’s balance call, according to a FactSet transcript. He attributed the additional articulation aftereffect to an bigger assortment, which includes bigger fit and style. The aggregation has additionally launched an in-store administration service.
At Ann Taylor, shoppers were headed to the blow section.
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“In the aboriginal quarter, we added our mix of appearance and are architecture on the absolute drive to bear characteristic assortments that adjust with the advancing about-face appear added accidental assignment wear,” Muto said on the call. “As allotment of this, we abide to pump our blow business, a key disciplinarian of chump loyalty, with new silhouette.”
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