1.0700 +0.02 (1.90%)
Pre-Market: 8:32AM EDT
|Bid||1.0400 x 29200|
|Ask||0.0000 x 36100|
|Day's Range||1.0200 - 1.1451|
|52 Week Range||0.9700 - 5.2900|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Ascena Retail Group Inc NASDAQ/NGS:ASNAView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is high * Economic output in this company's sector is expanding Bearish sentimentShort interest | NegativeShort interest is extremely high for ASNA with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting ASNA. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold ASNA had net inflows of $2.67 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is strong relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
The parent of Ann Taylor and Lane Bryant is exploring options for its lower-priced women’s clothing chain, Dressbarn, according to people familiar with the matter. Any potential move comes as retailers face challenges that include a costly battle to ward off Amazon.com Inc. as it pushes deeper into apparel. Value retailers like Dressbarn are also up against fast-fashion rivals like H&M and Zara, which have won over a growing portion of younger shoppers.
Moody's Investors Service ("Moody's) said that Ascena Retail Group, Inc.'s ("Ascena") announcement that it signed a definitive agreement to sell a majority interest in its subsidiary maurices to an affiliate of OpCapita LLP is a credit positive but has no impact on the ratings or outlook. The sale is a credit positive because it results in a better quality core portfolio and allows for accelerated debt repayment. Maurices has experienced mid-single-digit comparable sales decreases on average since FY 2016, as well as margin declines driven by the consumer mix shift to e-commerce.
Ascena Retail (NASDAQ:ASNA) announced that the business plans on selling a majority interest in its Maurices Inc. brand to a private equity firm, sending ASNA stock soaring more than 10% Monday.The Mahwah, New Jersey-based business, which owns Ann Taylor and Dressbarn, said that an affiliate of OpCapita LLP will buy the majority stake in the women's clothing retailer. The deal is reportedly valued at roughly $300 million, according to a statement from Ascena.The move comes following a statement from Ascena Retail in early March, noting that its value unit, which includes the likes of Maurices and Dressbarn, was operating at what it deemed to be an "unacceptable level of profitability." Maurices CEO George Goldfarb will reportedly continue to run the chain.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, Jeff Kirwan will become the brand's executive chairman, according to a statement from OpCapita. Ascena has been focusing on addressing its cost structure, while bringing back the focus to its brands in ways that will deliver growth in a competitive retail industry.According to chairman David Jaffe, the "structural changes in our industry" have had an adverse role in Ascena's value. He added that the business had plans to make more "deliberate actions" moving forward. The deal is designed to bolster the brand's liquidity and balance sheet, as part of the proceeds from the deal will help pay the existing term loan balance.ASNA stock is up 10.3% on Monday. More From InvestorPlace * 7 Marijuana Stocks to Play the CBD Trend * 10 Stocks on the Rise Heading Into the Second Quarter * 7 Beaten-Up Stocks to Buy as They Reverse Course Compare Brokers The post Why Ascena Retail (ASNA) Stock Is Surging Today appeared first on InvestorPlace.
The shares jumped the most in three months on the news.An affiliate of OpCapita LLP will buy a stake in the women’s clothing retailer in a deal valued at about $300 million, Ascena said in a statement. Key InsightsThe deal shouldn’t come as a complete surprise: Earlier this month, the company said its value unit, which includes Maurices and Dressbarn, was operating at an “unacceptable level of profitability.” Maurices Chief Executive Officer George Goldfarb will continue to run the chain, while Jeff Kirwan becomes executive chairman, OpCapita said in a statement.
jumped on Monday after it reached an agreement to sell a majority stake in Maurices, its women's clothing chain subsidiary. The sale, to an affiliate of private-equity firm OpCapita LLP, was valued at about $300 million. Ascena also owns brands Ann Taylor and Dressbarn.
Ascena Retail Group Inc. shares jumped 14% in Monday premarket trading after it announced an agreement to sell a majority stake in Maurices, the women's clothing chain, to private-equity firm OpCapita LLP for about $300 million. The move is part of a portfolio review that is on track to yield run-rate cost savings of $300 million by July. Other brands in the Ascena portfolio include Ann Taylor and Dressbarn. David Jaffe, Ascena's chief executive, said in a statement the company has a plan for an additional $150 million in savings, "which will drive operating margin expansion." Ascena will continue to support Maurices' business services platform, including sourcing and supply chain. Ascena's stock has slumped more than 57% in 2019 while the S&P 500 index has gained 11.7% for the year to date.
Ascena's conservative financial policies and good liquidity over the next 12-18 months provide key credit support, including solid positive free cash flow, ample revolver availability and a lack of near term maturities. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
plunged on Friday after the owner of Ann Taylor, Justice and Dressbarn said fiscal third-quarter results will miss analysts' estimates and said it was less confident of future sales. Of concern for investors, however, was Ascena's revised fiscal third-quarter guidance, which the company said will now be a loss of between 35 cents and 45 cents - significantly steeper than the break-even figure analysts surveyed by FactSet had been expecting. "While we believe the challenging selling environment is the result of macro headwinds impacting our sector, our third-quarter outlook represents an unacceptable profit shortfall to the expectations we shared at the beginning of our fiscal year," CEO David Jaffe said in a statement.
Ascena Retail Group Inc. late Thursday reported a wider-than-expected fiscal second-quarter loss, missed on sales, and said it was ready to fast-forward plans to rein in its cost structure on a bleaker third-quarter outlook. Shares were halted in the extended session ahead of the quarterly report, and fell more than 20% when trading resumed. The parent company of Ann Taylor, Dressbarn and other apparel brands said it lost $71.5 million, or 36 cents a share, in the quarter, compared with a loss of $39.3 million, or 20 cents a share, in the year-ago period. An increase in comparable sales "was more than offset by the impact of a lower gross margin rate and a lower benefit related to income taxes," Ascena said. Adjusted for one-time items, Ascena lost 26 cents a share in the quarter, compared with an adjusted loss of 12 cents a share a year ago. Sales fell to $1.69 billion, compared with $1.72 billion a year ago. Analysts polled by FactSet had expected Ascena to report an adjusted loss of 25 cents a share on sales of $1.71 billion. Chief Executive David Jaffe pinned the results in part to "macro headwinds" in retail, but faulted the company's third-quarter outlook as "an unacceptable profit shortfall to the expectations we shared at the beginning of our fiscal year. As a result, we are working to accelerate plans that were already in development to take much more fundamental action to address our cost structure," he said in a statement. For the third quarter, the company said it expects a non-GAAP loss between 45 cents and 35 cents a share and net sales between $1.43 billion and $1.46 billion on a retreat in comparable-store sales between 4% and 2%. The analysts surveyed by FactSet had expected a break-even third quarter for Ascena on sales of $1.5 billion.
MAHWAH, N.J. (AP) _ Ascena Retail Group Inc. (ASNA) on Thursday reported a loss of $71.5 million in its fiscal second quarter. Losses, adjusted for restructuring costs and non-recurring costs, came to 26 cents per share. For the current quarter ending in May, Ascena Retail expects its results to range from a loss of 45 cents per share to a loss of 35 cents per share.