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Ascena Retail fiscal Q1 profit falls 19.8% YOY

Ascena Retail Group Inc. said its normalized net income for the fiscal first quarter ended Oct. 25 was 28 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS fell 20.2% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $46.3 million, a decrease of 19.8% from $57.7 million in the prior-year period.

The normalized profit margin dropped to 4.0% from 4.8% in the year-earlier period.

Total revenue totaled $1.19 billion, compared with $1.20 billion in the year-earlier period, and total operating expenses rose from the prior-year period to $1.12 billion from $1.10 billion.

Reported net income fell year over year to $52.7 million, or 32 cents per share, from $54.2 million, or 33 cents per share.