Ascena Retail Group (ASNA) reported third quarter adjusted earnings from continuing operations of $0.26 per share after the close Wednesday, down from $0.34 per share a year ago. The consensus estimate was for EPS of $0.30. The Company revised its guidance for adjusted earnings per diluted share from continuing operations for the fiscal year 2013 to a range of $1.10 to $1.15. The consensus estimate is for EPS of $1.26.
Ascena Retail Group gapped open sharply lower Thursday, but moved in a narrow range throughout the session. Shares finished down by 1.73 at $18.13 on above average volume. The stock dropped to a 1-month low and fell below both its 50 and 200-day moving averages.
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