Ascena Retail Group, Inc. has announced that it has updated its financial outlook for the quarter and fiscal year ending July 25, 2015 primarily to reflect its recent decision to accelerate its planned merchandise transition at Justice and to incorporate lower than expected top-line performance at Justice and dressbarn.
Subject to completion of the Company’s fourth quarter close and audit of its fiscal year 2015 financial statements, the Company now expects full-year adjusted EBITDA from continuing operations in the range of $365 million to $375 million, and full-year adjusted earnings per diluted share from continuing operations in the range of $0.57 to $0.60 as compared to its prior expectation of $0.70 to $0.75 per share. These ranges exclude the above-mentioned charges for the goodwill and intangible asset impairment and the litigation reserve.
View the full earnings release here.