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Ann Taylor parent Ascena Retail records sales of USD 1.59 mn in Q1 FY2019

Ascena Retail Group, the largest speciality womenswear retailer in the US, has reported net sales of US $ 1,592 million for the first quarter ended in November, 2018. The company had earned US $ 1,590 million in sales in the year-ago period.

“Our first quarter results represent another step forward in our journey to transform Ascena Retail into a more agile, profitable company. We delivered a 3 percent comparable sales increase, driven by strength at our premium and kids segments,” said David Jaffe, Chairman and CEO of Ascena Retail.

The company claims that it has built a solid foundation over the course of transformation, consisting of new brand leadership and significantly enhanced enterprise capabilities via an improved understanding of customer.

Operating income for the quarter stood at US $ 38.9 million as against US $ 39.9 million in the corresponding quarter of the previous year.

Additionally, comparable sales of the brands owned by Ascena Retail increased as followed: Ann Taylor +7 percent; LOFT +9 percent; Maurices +3 percent; Dressbarn +4 percent; Lane Bryant +2 percent; Catherines +2 percent.

The company’s capital expenditures remained US $ 32 million in the first quarter.

At the end of the quarter, the company had 4,596 stores as compared to 4,794 stores last year.

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