Ascena Q2 net loss widens, comparable sales drop 2 percent

Ascena Retail Group, inc. reported net sales for the second quarter of 1,217 million dollars compared to 1,271 million dollars in the year-ago period, reflecting a comparable sales decrease of 2 percent, a decline in other revenue and a decrease in non-comparable sales. Gross margin decreased to 635 million dollars from 660 million dollars, while gross margin rate improved to 52.2 percent compared to 51.9 percent of sales in the year-ago period. The company reported a net loss from continuing operations of 132 million dollars or 13.22 dollars per diluted share compared to 81 million dollars or 8.20 dollars per diluted share, in the year-ago period.