Ascena Beats Q1 Earnings Despite Soft Comps, Retains View

Ascena retail Group Inc. (ASNA – Snapshot Report) reported first-quarter fiscal 2015 adjusted earnings from continuing operations of 28 cents per share, a penny ahead of the Zacks Consensus Estimate and in line with the company's expectations. However, adjusted earnings fell 22.2% from the prior-year earnings of 36 cents per share due to negative comparable store sales (comps) performance and increased costs, related to store expansion, capability building initiatives and strategic investments.