Executive Summary

• Ascena Retail Group reported fiscal 2Q17 adjusted EPS of $(0.07), versus a profit of $0.01 per share in the year-ago quarter and beating the consensus estimate by two cents. Revenues were $1.75 billion, down 5.1% year over year and in line with the consensus estimate.
• Comps were down 4%, in line with consensus, comprising a 5% decline for Premium Fashion, a 6% decline for Value Fashion, a 4% decline for Plus Fashion and a 1% decline for Kids Fashion.
• The company expects full-year adjusted EPS of $0.37–$0.42, which brackets the $0.39 consensus, and fiscal 3Q17 adjusted EPS of $0.07–$0.12, below the $0.15 consensus estimate.