Ascena’s online sales increase 172% in Q3
June 12, 2013 01:03 PM
Growth in e-commerce sales highlighted Ascena Retail Group Inc.’s third quarter results. The women’s apparel retailer’s overall sales increased, while its net income fell.
For the third quarter of fiscal 2013 ended April 27, Ascena, No. 140 in the 2013 Internet Retailer Top 500, reported:
- E-commerce sales increased year over year about 172.2% to $98 million from $36 million.
- Total sales increased 45.5% to $1.14 billion from $783.3 million in the third quarter of fiscal 2012.
- Comparable-store sales decreased 1%.
- Net income decreased 36.8% to $31.2 million from $49.4 million in the third quarter of fiscal 2012.
The web accounted for 8.6% of total sales compared with 4.6% in the prior year.
Ascena says e-commerce sales, particularly with its Maurices and Justice brands, helped fuel the growth. “E-commerce has got a wonderful upward trend, and we see that continuing at all brands,” David R. Jaffe, Ascena president and CEO, told analysts during a conference call about the results. Ascena operates Dressbarn, Maurices, Justice, Lane Bryant and Catherines stores and e-commerce sites.
For the first nine months of 2013, Ascena reported:
- E-commerce sales grew 86.3% to $296.4 million from $159.1 million.
- Total sales increased 46.1% to $3.52 billion from $2.41 billion for the first three quarters of fiscal 2012.
- Comparable-store sales increased 1%.
- Net income decreased 24.3% to $121.5 million from $160.6 million.
Online sales accounted for 8.4% of overall sales in the first nine months of fiscal 2013 compared with 6.6% a year earlier.