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Ascena plunges 32% after slashing outlook

May 17, 2017 4:50 PM ETAscena Retail Group, Inc. (ASNA) StockBy: Stephen Alpher, SA News Editor18 Comments
  • The company sees Q3 adjusted EPS of $0.04-$0.06 vs. $0.07-$0.12 previously. Street estimates are for $0.09. Comparable sales are seen down 8%.
  • Full-year adjusted EPS is now guided to $0.10-$0.15 from $0.37-$0.42 previously, and Street estimates of $0.38. Comparable sales are seen down 6%-7%.
  • CEO David Jaffe: "The specialty retail sector is in a period of unprecedented secular change that is disruptive to traditional business models, and we believe operating conditions in our sector are likely to remain challenging for the next 12 to 24 months."
  • NASDAQ:ASNA -32.6% after hours

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Ascena Retail Group, Inc.