Ascena Retail Group Inc (NASDAQ:ASNA) announced that its Q2 net income came in at $63.7 million or $0.81 a share, against $42.5 million, or $0.52 a share in the previous year period.
Eleven analysts surveyed by Thomson Reuters projected the company to make $0.67 per share in earnings on average. Analysts’ forecasts normally not include special objects.
Net sales for the quarter rose 15% to $862.0 million against $752.1 million in the similar quarter previous year. This was mainly because of an 8% gain in similar store sales, strong expansion in sales from new stores and e-commerce, and a $6 million rise in sales regarding gift card breakage.
Analysts anticipated revenues of $829.90 million for the three months.
The firm is upgrading its EPS outlook for its FY closing July 2012 to in between $2.75 and $2.80, higher from its previous outlook in between $2.60 and $2.70 as a result of the greater-than-anticipated quarterly earnings results and positive early spring sales trends.
Analysts look forward the company to announce earnings of $2.66 a share for FY 2012.
Ascena Retail Group Inc gained 5.49% to close at $41.09 with the total traded volume of 1.56 million shares beating the average volume of 0.74 million.
Its shares were trading within the range of $40.56-$43.00 while its opening price was $42.68. Its market capitalization is $3.16 billion. Its stock price 52 weeks low was $24.00 and 52 weeks high price was $43.00.
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