Ascena Retail Q2 Profit Down, Cuts FY14 Outlook - Quick Facts

(RTTNews) - Ascena Retail Group Inc. (ASNA) Monday reported second-quarter profit of $31.9 million or $0.19 per share, down from $47.2 million or $0.29 per share in the same period last year.

Adjusted EPS for the quarter was $0.23 per share. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $1.27 billion from $1.24 billion last year. Analysts expected sales of $1.27 billion. Comparable store sales for the quarter were essentially flat with last year.

Looking ahead, the company has reduced full-year adjusted earnings guidance to a range of $1.00 to $1.05 per share from its previous guidance range of $1.10 to $1.15 per share. Analysts currently expect full-year earnings of $1.15 per share.