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Ascena Retail profit beats consensus by 38.6% in fiscal Q1

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Ascena Retail profit beats consensus by 38.6% in fiscal Q1

Ascena Retail Group Inc. said its normalized net income for the fiscal first quarter ended Oct. 24 came to 39 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS rose 37.3% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $72.9 million, a gain of 54.0% from $47.4 million in the prior-year period.

The normalized profit margin increased to 4.4% from 4.0% in the year-earlier period.

Total revenue rose 40.0% year over year to $1.67 billion from $1.19 billion, and total operating expenses increased 37.5% year over year to $1.54 billion from $1.12 billion.

Reported net income totaled a loss of $18.5 million, or a loss of 10 cents per share, compared to income of $52.7 million, or 32 cents per share, in the prior-year period.