Re: FW: (BN) Ascena Falls After Cutting Profit Forecast on Slow Justice (SC)
Ascena Falls After Cutting Profit Forecast on Slow Justice Sales=/u>
2015-07-13 15:24:53.444 GMT
By Lindsey Rupp
(Bloomberg) -- Ascena Retail Group Inc. fell th= most in more than nine months after cutting its profit forecast for the y=ar because of slower-than-expected sales at its Justice and Dressbarn stor=s.
Earnings in the year through July 25 will be 57=cents to 60 cents a share, excluding some items, down from a previous proj=ction of 70 cents to 75 cents, the Mahwah, New Jersey-based company said F=iday in a statement. Analysts estimated 70 cents, on average.
Chief Executive Officer David Jaffe is trying t= revive sales at several flagging brands as mall traffic declines. He =80 s also struggling to clear older merchandise from the Justice teen-ap=arel chain to focus on more versatile, everyday clothing.
Ascena, which agreed to buy women's wor=-wear maker Ann Inc. in May for about $2.16 billion, fell as much as 16 pe=cent to $13.80 in New York. That's the biggest intraday decline si=ce Sept. 23. Ascena had risen 30 percent this year through the end of last week.
For Related News and Information:
Bloomberg Intelligence - Specialty Apparel Stores: BI APPR
To contact the reporter on this story:
Lindsey Rupp in New York
To contact the editors responsible for this story: =/p>
Nick Turner at
Kevin Orland
Jeffrey -just want to make sure you saw ASNA is trading down - 1.% today to $14.09/sh. on the back of the company cutting its profit foreca=t.
Additional detail is included in Bloomberg article below.<=p>
Recall that you own 70,500 ASNA at $21.2765/sh. cost basis purchased in =001.
Thank you,
Vahe
thanks, are there cds for ch=na and or moroco?