Ann Taylor parent Ascena swings to quarterly loss

Ascena Retail Group Inc. stock fell more than 12% in the extended session Thursday after the parent of Ann Taylor and other apparel brands swung to a loss in the fiscal fourth quarter and sales were flat. Ascena said it lost $358 million, or $2.12 a share, in the quarter, versus a profit of $33 million, or 8 cents a share, in the year-ago quarter. Revenue stayed at $1.5 billion. Same-store sales were also flat, Ascena said. Dress Barn's store closings and wind-down is "progressing well and on track" for December, Ascena said. One analyst covering the stock expected a GAAP loss of $1.20 a share on sales of $1.2 billion, according to FactSet. Shares of Ascena ended the regular trading day up 13%. The shares recouped some losses as the after-hours session progressed, and were recently down 6%.

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