Shares of Ascena Retail Group Inc. (NASDAQ: ASNA) slumped about 10.30% by afternoon trade. The specialty retailer missed analysts’ estimates for the fiscal third quarter. Ascena Retail said on Wednesday that it earned (non-GAAP income) 26 cents a share compared to 34 cents a share, in the year earlier quarter. Net sales jumped 46% to $1.14 billion from $783 million, in the year-earlier quarter. Revenue was boosted by recently acquired Lane Bryant and Catherines businesses. Analysts surveyed by Thomson Reuters were expecting earnings of 30 cents a share on revenue of $1.17. The Company reiterated its full-year earnings guidance of $1.10 to $1.15 a share.
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