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Ascena Retail Group Stock Soared on Q4 Earnings Beat

Shares had fallen nearly 5% during regular trading hours

Ascena Retail Group (NASDAQ:ASNA) stock was sliding early in the day before soaring after the bell on Monday as the company reported its latest quarterly earnings results, which topped what analysts were calling for.

Ascena Retail GroupThe company said that for its fourth quarter of fiscal 2018, it brought in net income of $33.2 million, or 17 cents per share. The figure was stronger than the company’s losses from the year-ago, which came in at $15.8 million, or 8 cents per share.

On an adjusted basis when considering restructuring and changes to U.S. tax laws, Ascena Retail Group brought in earnings of 7 cents per share. Analysts were calling for adjusted earnings of 5 cents per share, according to data compiled by analysts polled by FactSet.

The retailer added that its sales for its fourth quarter of the fiscal year reached $1.77 billion, which was better than the $1.66 billion that it raked in during the year-ago quarter. The Wall Street consensus estimate was calling for Ascena Retail Group to rake in revenue of $1.62 billion for the period, according to FactSet.

For its first quarter of fiscal 2018, the company sees its sales as being in the range of $1.54 billion to $1.56 billion. Analysts are modeling revenue of $1.53 billion for the period, as well as earnings of 15 cents per share.

ASNA stock fell about 5% during regular trading hours in anticipation of the company’s quarterly earnings results on Monday. The company’s strong results sent shares soaring more than 9.7% after hours on the day.

Article printed from InvestorPlace Media,

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