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Ascena Retail fiscal Q2 profit falls 55.6% YOY

Ascena Retail Group Inc. said its normalized net income for the fiscal second quarter ended Jan. 24 amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS fell 55.5% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.1 million, a decline of 55.6% from $36.3 million in the prior-year period.

The normalized profit margin dropped to 1.3% from 2.9% in the year-earlier period.

Total revenue rose year over year to $1.29 billion from $1.27 billion, and total operating expenses grew from the prior-year period to $1.26 billion from $1.21 billion.

Reported net income fell 73.8% year over year to $8.2 million, or 5 cents per share, from $31.3 million, or 19 cents per share.