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Ascena Jumps On Better-than-expected Result

Ascena Retail Group Inc. , parent of Dress Barn and Lane Bryant clothing chains for women, jumped 11% on Tuesday after it reported a better-than-expected fiscal second-quarter profit late Monday. The company, which also owns Justice kids' clothing chain, kept its per-share profit guidance for the year but lowered its spring same-store sales guidance to be in the range of flat to up 3%. "In the near-term, we think that results will remain under pressure as the company navigates a number of difficult turnarounds in a tough macro environment," said KeyBanc Capital Markets analyst Edward Yruma.Copyright © 2013 MarketWatch, Inc....

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