Ascena Retail Group, a specialty retailer offering apparel, shoes, and accessories for women, reported 2 per cent decline in sales to $1,216.9 million in second quarter (Q2) FY20 ended on February 1, 2020 compared to same period prior year. YoY (Year-over-Year) sales was reported to $2,336.5 million compared to $2,418 million in same period prior year.
Ascena Retail Group, a specialty retailer offering apparel, shoes, and accessories for women, reported 2 per cent decline in sales to $1,216.9 million in second quarter (Q2) FY20 ended on February 1, 2020 compared to same period prior year. YoY (Year-over-Year) sales was reported to $2,336.5 million compared to $2,418 million in same period prior year.#
"For the second quarter, we are pleased to have exceeded our adjusted operating income expectations for the third consecutive quarter, resulting from better gross margin performance and continued cost reduction efforts. We continue to work toward delivering sustainable growth by leveraging our customer analytics and insights, placing the customer at the center of everything we do," Gary Muto, chief executive officer of ascena, said in a press release.
Ascena Retail Group, a specialty retailer offering apparel, shoes, and accessories for women, reported 2 per cent decline in sales to $1,216.9 million in second quarter (Q2) FY20 ended on February 1, 2020 compared to same period prior year. YoY (Year-over-Year) sales was reported to $2,336.5 million compared to $2,418 million in same period prior year.#
Operating loss in the quarter was $140 million, which reportedly reflected non-cash impairment charges of goodwill and other intangible assets, offset in part by the benefit of cost reductions. Gross margin in Q2 FY20 decreased to $635 million from $660 million, reportedly driven by the net sales decline, partially offset by the gross margin rate improvement to 52.2 per cent of sales, compared to 51.9 per cent of sales in same period prior year.
Ascena Retail Group, a specialty retailer offering apparel, shoes, and accessories for women, reported 2 per cent decline in sales to $1,216.9 million in second quarter (Q2) FY20 ended on February 1, 2020 compared to same period prior year. YoY (Year-over-Year) sales was reported to $2,336.5 million compared to $2,418 million in same period prior year.#
Selling, general, and administrative (SG&A) expenses in Q2 FY20 decreased 3 per cent to $382 million or 31.4 per cent of sales compared to $394 million or 31.0 per cent of sales in prior year. The Company reported a net loss from continuing operations of $132 million in Q2 FY20, compared to $81 million in same period prior year.
Ascena Retail Group, a specialty retailer offering apparel, shoes, and accessories for women, reported 2 per cent decline in sales to $1,216.9 million in second quarter (Q2) FY20 ended on February 1, 2020 compared to same period prior year. YoY (Year-over-Year) sales was reported to $2,336.5 million compared to $2,418 million in same period prior year.#
Premium Fashion's sales marginally decreased in Q2 FY20 to $624.1 million (Q2 FY19: $638.9 million). Plus Fashion registered its sales to $318.6 million (Q2 FY19: 305.8 million). Kids Fashion sales in the quarter fell to $274.2 million (Q2 FY19: $326.7 million).
Fibre2Fashion News Desk (JL)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
