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Ascena Retail profit holds relatively steady YOY in fiscal Q3

Ascena Retail Group Inc. said its normalized net income for the fiscal third quarter ended April 23 amounted to 13 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS declined 15.8% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.1 million, compared with $26.2 million in the year-earlier period.

The normalized profit margin fell to 1.6% from 2.3% in the year-earlier period.

Total revenue rose 45.1% on an annual basis to $1.67 billion from $1.15 billion, and total operating expenses grew 44.6% on an annual basis to $1.60 billion from $1.11 billion.

Reported net income declined 37.0% year over year to $15.6 million, or 8 cents per share, from $24.8 million, or 15 cents per share.