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Ascena profit drops in Q2; to open net 60 stores
Suffern, N.Y. -- Ascena Retail Group reported Monday that adjusted net income for the quarter ended Jan. 26 dropped to $42.9 million, compared with $63.7 million in the year-ago period, due in large part to expenses associated with the company’s acquisition of Charming Shoppes.
Sales soared 44% to $1.2 billion from $862 million, driven by the added Lane Bryant and Catherine’s banners. Same-store sales dipped 1%.
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Former Michaels CEO to head Tuesday Morning on interim basis
DALLAS — Tuesday Morning has named former Michaels Stores president and CEO, Michael Rouleau as its interim CEO.
In his role as interim CEO, Rouleau will manage the company's day-to-day operations through the retention of a new CEO. He will continue to serve on the company's board of directors, which he joined in November 2012.