By  on September 19, 2012

Ascena Retail Group Inc.’s deal to bring Charming Shoppes Inc. into the fold weighed on fourth-quarter earnings.

Net income fell to $1.6 million, or 1 cent a share, from $28.2 million, or 18 cents, a year earlier. Sales for the three months ended July 28 rose 29.5 percent to $939.7 million from $725.8 million.

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