Ascena Shares Gain On Smaller-than-expected Loss

By Sue Chang Markets MarketWatch Pulse

Shares of Ascena Retail Group Inc. rose in Monday's extended session after the company that owns Ann Taylor, Dress Barn and Lane Bryant posted a smaller loss than expected. Ascena reported its second-quarter loss widened to $35.2 million, or 18 cents a share, from $22.6 million, or 12 cents a share, a year ago. On an adjusted basis, it would have lost 7 cents a share. Revenue slipped to $1.75 billion from $1.84 billion while same-store sales fell 4%. Analysts surveyed by FactSet had forecast the retailer to report a loss of 9 cents a share on revenue of $1.75 billion. Shares climbed 2% after hours.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.