ASCENA RETAIL GROUP, INC. (NASDAQ:ASNA) Files An 8-K Material Impairments
Item 2.06. Material Impairments.
stock price of Ascena Retail Group, Inc. (the Company), and
reduction in the Companys forecasted earnings represent
impairment indicators that required the Company to test its
goodwill and indefinite lived intangible assets for impairment
during the fiscal third quarter. The Company is in the process of
completing that analysis and expects to record a material
non-cash impairment charge of its goodwill and intangible assets
during the fiscal third quarter ending April 29, 2017. The amount
of such charge cannot be estimated at this time. No cash
expenditures are anticipated as a result of any impairment
charge.
material non-public information regarding its comparative sales
results for the fiscal third quarter ending April 29, 2017. The
Company is also lowering its non-GAAP earnings per diluted share
guidance for the fiscal third quarter and the full fiscal year
ending July 29, 2017. A copy of this press release is furnished
herewith as Exhibit 99.1 to this Current Report on Form 8-K and
is incorporated by reference into this Item 7.01.
99.1) shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934 (the Exchange Act) or otherwise
subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing under the
Securities Act of 1933 or the Exchange Act, except as expressly
set forth by specific reference in such filing.
statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ materially. The Company does not
undertake to publicly update or review its forward-looking
statements even if experience or future changes make it clear
that our projected results expressed or implied will not be
achieved. Detailed information concerning a number of factors
that could cause actual results to differ materially from the
information contained herein is readily available in the Companys
other filings with the Securities and Exchange Commission.
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Exhibit Number
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Description
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99.1
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Press Release dated May 17, 2017.
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About ASCENA RETAIL GROUP, INC. (NASDAQ:ASNA)
Ascena Retail Group, Inc. is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands. The Justice segment offers apparel to girls who are aged 6 to 12. The Lane Bryant segment offers apparel to female customers in plus-sizes 14-28. The maurices segment offers women’s casual clothing, career wear, dressy apparel, active wear and accessories. The dressbarn segment consists of the specialty retail, outlet and e-commerce operations of the dressbarn brand. The Catherines segment offers classic apparel and accessories to female customers for wear-to-work and casual lifestyles. As of July 30, 2016, the Company operated approximately 4,900 stores in 49 United States’ states, the District of Columbia, Canada and Puerto Rico. ASCENA RETAIL GROUP, INC. (NASDAQ:ASNA) Recent Trading Information
ASCENA RETAIL GROUP, INC. (NASDAQ:ASNA) closed its last trading session down -0.05 at 2.82 with 4,454,430 shares trading hands.
