By  on September 25, 2017

Ascena is still struggling to get on solid financial footing, but its aggressive cost-cutting has Wall Street breathing a sigh of relief.

Shares of the Ann Taylor, Loft, Lane Bryant and Dress Barn operator jumped 17 percent to $2.54 during after-hours trading after the company posted a net loss using generally accepted accounting principles of $1.07 billion for the fiscal year ended July 29, compared to a net loss of $11.9 million last year.

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