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Ascena Retail profit misses consensus by 18.4% in fiscal Q3

Ascena Retail Group Inc. said its normalized net income for the fiscal third quarter ended April 25 amounted to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 19 cents per share.

EPS fell 36.8% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.2 million, a decrease of 36.7% from $41.4 million in the year-earlier period.

The normalized profit margin dropped to 2.3% from 3.6% in the year-earlier period.

Total revenue came to $1.15 billion, compared with $1.15 billion in the prior-year period, and total operating expenses rose from the prior-year period to $1.11 billion from $1.08 billion.

Reported net income fell 31.7% on an annual basis to $24.8 million, or 15 cents per share, from $36.2 million, or 22 cents per share.