Ascena Retail Group’s Q2 income nearly doubles

Suffern, N.Y. -- Ascena Retail Group's fiscal second-quarter net income nearly doubled to top expectations, buoyed by solid results at its Justice stores. The company, formerly The Dress Barn, reported net income of $42.5 million for the quarter, up from $21.7 million last year. Revenue for the period ended Jan. 29 was up 27% to $752.2 million, better than the Street's $716.2 million estimate. Same-sale sales rose 9%. By division, Dress Barn same-store sales inched up 1%. The figure rose 17% for Maurices and 11% for Justice.