Ascena Retail Group Inc., despite reporting a tough Christmas quarter on Monday and expressing concerns about consumers under pressure this spring, stuck to its earnings forecast for its fiscal year ending in July, pushing the stock up 13.6 percent.
The stock rose $2.25 to $18.78 in after-hours trading after Ascena reiterated that it expects adjusted earnings per diluted share from continuing operations of $1.20 to $1.30, excluding onetime costs from the Charming Shoppes acquisition. The forecast is based on the spring season comp-store sales ranging from flat to up 3 percent and e-commerce up 25 percent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"