Ascena stock rallies, then tanks, as Ann Taylor parent posts narrower loss
Shares of Ascena Retail Group Inc. rallied in the extended session Monday only to switch to losses after the parent of Ann Taylor, Lane Bryant and other apparel brands reported a narrower-than-expected quarterly loss but missed sales expectations. Ascena said it had lost $238 million, or $1.20 a share, in the fiscal third quarter, compared with a loss of 20 cents a share in the year-ago period. Adjusted for one-time items, Ascena lost 26 cents a share in the quarter, compared with an adjusted loss of 8 cents a share in the year-ago period.