Ascena Shares Rise Even As Earnings, Outlook Miss Street View

By Wallace Witkowski Markets MarketWatch Pulse

Ascena Retail Group Inc. shares rose in the extended session Thursday even after the parent of Ann Taylor and Loft stores fell short of Wall Street earnings expectations. Ascena shares rose 5.2% to $1.91 after hours. The company reported adjusted fiscal third-quarter earnings of 5 cents a share on revenue of $1.57 billion. Analysts surveyed by FactSet had estimated earnings of 6 cents a share on revenue of $1.56 billion. For the fourth quarter, Ascena expects an adjusted loss of a penny to 6 cents a share, while analysts estimate earnings of 3 cents a share.

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