Ascena reports profit in Q1, comparables sales remain flat

Net sales for the first quarter at Ascena Retail Group were 1,297 million dollars compared to 1,339 million dollars in the year-ago period, which the company said reflect flat comparable sales for the quarter and a decrease in non-comparable sales which include the impact of the store closures. The company reported net income from continuing operations of 32 million dollars or 16 cents per diluted share compared to a net loss from continuing operations of 24 million dollars or 12 cents per diluted share, in the year-ago period.