Boston, MA 09/24/2014 (wallstreetpr) – According to reports, Ascena Retail Group Inc (NASDAQ:ASNA) has announced that it would take part in the 5th Annual Fall Consumer Conference of Telsey Advisory Group. It would take place at the InterContinental Hotel, New York Times Square in New York on September 30, 2014. ASNA has made the announcement just after reporting financial results for the most recent quarter.
Operational growth of ASNA:
Ascena Retail Group Inc (NASDAQ:ASNA) has taken a strategic decision by announcing to take part in the conference event of Telsey Advisory Group. The day before the announcement, it reported its financial results for the recent quarter. After the earnings report, the shares of ASNA have gone down by 16%. Here are a few key highlights that can give you a fair idea of its performance during the fourth quarter-
- The company faced a lot of challenges, especially in the retail segment. The main reason was lack of traffic across all the locations.
- Last year it managed to earn $.34 per share adjusted earnings while this year it could only earn $0.13 per share. Reduction in revenues was the main reason behind this decline. One other important reason behind it was increased operating expenses.
- The company earned the targeted profitable figures during the quarter, but still the sales was below expectations.
- When it comes to total adjusted comp sales, it was down 10% in the fourth quarter.
- It performed various tasks to clear out its inventory, which ultimately resulted into drop into gross margin.
Ascena Retail Group Inc (NASDAQ:ASNA) has experienced a significant drop in quarterly sales; therefore, it has decided to introduce various innovative and attractive features to bring more customers on board than the previous quarter. The company is planning to offer free shipping, flat discount rate and other promotional offers on its e-commerce products. According to management, it would surge the revenues as well as increase sales in coming months.
