December 4, 2017 / 9:47 PM / 10 days ago

BRIEF-Ascena Retail Group Says Q1 Same Store Sales Fell 5 Pct

Dec 4 (Reuters) - Ascena Retail Group Inc:

* ASCENA RETAIL GROUP INC REPORTS FIRST QUARTER RESULTS AND PROVIDES GUIDANCE FOR SECOND QUARTER OF FISCAL 2018; FIRST QUARTER GAAP EPS OF $0.03; NON-GAAP ADJUSTED EPS OF $0.11; COMPARABLE SALES DOWN 5 PCT

* REPORTS Q1 GAAP EARNINGS PER SHARE $0.03

* Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.11

* Q1 GAAP EARNINGS PER SHARE $0.03

* Q1 SALES $1.59 BILLION VERSUS $1.678 BILLION

* Q1 SAME STORE SALES FELL 5 PERCENT

* SEES Q2 2018 NON-GAAP LOSS PER SHARE $0.07 TO $0.12

* SEES Q2 2018 SALES $1.62 BILLION TO $1.66 BILLION

* Q1 ADJUSTED EARNINGS PER SHARE OF 11 CENTS WAS IN MIDDLE OF GUIDANCE RANGE, BUT REPRESENTED A “DISAPPOINTING” QUARTER

* ASCENA RETAIL SAYS THREE HURRICANES WHICH IMPACTED SOUTHERN UNITED STATES, PUERTO RICO DURING Q1 NEGATIVELY IMPACTED SALES BY ABOUT $11 MILLION

* UNABLE TO CAPITALIZE ON IMPROVING MACRO TRAFFIC ENVIRONMENT DUE TO FASHION MISSTEPS

* ENDED Q1 OF FISCAL 2018 WITH INVENTORY OF $744 MILLION, DOWN 8 PERCENT FROM THE END OF YEAR-AGO PERIOD

* SEES Q2 2018 COMPARABLE SALES IN RANGE OF DOWN 4 PCT TO DOWN 6 PCT

* Q2 EARNINGS PER SHARE VIEW $-0.07, REVENUE VIEW $1.67 BILLION -- THOMSON REUTERS I/B/E/S

* Q1 EARNINGS PER SHARE VIEW $0.11, REVENUE VIEW $1.59 BILLION -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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