Company Quick10K Filing
Ascena Retail Group
Price0.25 EPS-3
Shares199 P/E-0
MCap50 P/FCF-1
Net Debt1,108 EBIT-529
TEV1,158 TEV/EBIT-2
TTM 2019-11-02, in MM, except price, ratios
10-Q 2020-05-02 Filed 2020-08-07
10-Q 2020-02-01 Filed 2020-03-09
10-Q 2019-11-02 Filed 2019-12-10
10-K 2019-08-03 Filed 2019-10-10
10-Q 2019-05-04 Filed 2019-06-12
10-Q 2019-02-02 Filed 2019-03-14
10-Q 2018-11-03 Filed 2018-12-10
10-K 2018-08-04 Filed 2018-09-24
10-Q 2018-04-28 Filed 2018-06-04
10-Q 2018-01-27 Filed 2018-03-05
10-Q 2017-10-28 Filed 2017-12-04
10-K 2017-07-29 Filed 2017-09-25
10-Q 2017-04-29 Filed 2017-06-08
10-Q 2017-01-28 Filed 2017-03-06
10-Q 2016-10-29 Filed 2016-12-01
10-K 2016-07-30 Filed 2016-09-19
10-Q 2016-04-23 Filed 2016-05-31
10-Q 2016-01-23 Filed 2016-03-01
10-Q 2015-10-24 Filed 2015-12-01
10-K 2015-07-25 Filed 2015-09-16
10-Q 2015-04-25 Filed 2015-06-02
10-Q 2015-01-24 Filed 2015-03-03
10-Q 2014-10-25 Filed 2014-12-02
10-K 2014-07-26 Filed 2014-09-23
10-Q 2014-04-26 Filed 2014-06-03
10-Q 2014-01-25 Filed 2014-03-03
10-Q 2013-10-26 Filed 2013-12-02
10-Q 2013-04-27 Filed 2013-06-05
10-Q 2013-01-26 Filed 2013-03-04
10-Q 2012-10-27 Filed 2012-12-06
10-K 2012-07-28 Filed 2012-09-26
10-Q 2012-04-28 Filed 2012-05-31
10-Q 2012-01-28 Filed 2012-03-01
10-Q 2011-10-29 Filed 2011-12-08
10-K 2011-07-30 Filed 2011-09-28
10-Q 2011-04-30 Filed 2011-06-09
10-Q 2011-01-29 Filed 2011-03-10
8-K 2020-08-14 Enter Agreement, Exhibits
8-K 2020-08-03 Earnings
8-K 2020-07-24 Shareholder Rights, Other Events, Exhibits
8-K 2020-07-24 Impairments
8-K 2020-07-24 Impairments
8-K 2020-07-23 Enter Agreement, Bankruptcy, Off-BS Arrangement, Regulation FD, Other Events, Exhibits
8-K 2020-06-26
8-K 2020-06-17
8-K 2020-05-26
8-K 2020-05-26
8-K 2020-04-08
8-K 2020-03-24
8-K 2020-03-16
8-K 2020-03-09
8-K 2020-02-24
8-K 2020-01-06
8-K 2019-12-17
8-K 2019-12-10
8-K 2019-12-09
8-K 2019-11-21
8-K 2019-10-02
8-K 2019-07-29
8-K 2019-07-25
8-K 2019-06-21
8-K 2019-06-10
8-K 2019-05-31
8-K 2019-05-31
8-K 2019-05-18
8-K 2019-05-06
8-K 2019-05-01
8-K 2019-04-05
8-K 2019-03-24
8-K 2019-03-14
8-K 2019-01-14
8-K 2018-12-14
8-K 2018-12-10
8-K 2018-10-03
8-K 2018-09-28
8-K 2018-09-24
8-K 2018-07-12
8-K 2018-06-07
8-K 2018-06-04
8-K 2018-05-17
8-K 2018-03-14
8-K 2018-03-05
8-K 2018-02-27
8-K 2018-01-08
8-K 2018-01-08

ASNA 10Q Quarterly Report

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Part II - Other Information
Item 1 - Legal Proceedings
Item 1A - Risk Factors
Item 6 - Exhibits
EX-10.1 exhibit101.htm
EX-31.1 asna10q-q3fy20xexx311.htm
EX-31.2 asna10q-q3fy20xexx312.htm
EX-32.1 asna10q-q3fy20xexx321.htm
EX-32.2 asna10q-q3fy20xexx322.htm

Ascena Retail Group Earnings 2020-05-02

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
1.91.30.70.1-0.5-1.12012201420172020
Rev, G Profit, Net Income
1.81.10.4-0.2-0.9-1.62012201420172020
Ops, Inv, Fin

asna-20200502
false2020Q300014983018/110,087,4080.05P5YP3DP30D0.05P1YP3Y0.05P5YP5Y630000014983012019-08-042020-05-02xbrli:shares00014983012020-07-31iso4217:USD00014983012020-05-0200014983012019-08-03iso4217:USDxbrli:shares00014983012020-02-022020-05-0200014983012019-02-032019-05-0400014983012018-08-052019-05-040001498301us-gaap:RetainedEarningsMember2020-02-022020-05-020001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-02-022020-05-0200014983012018-08-0400014983012019-05-040001498301us-gaap:CommonStockMember2019-08-030001498301us-gaap:AdditionalPaidInCapitalMember2019-08-030001498301us-gaap:RetainedEarningsMember2019-08-030001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-08-030001498301us-gaap:RetainedEarningsMember2019-08-042019-11-0200014983012019-08-042019-11-020001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-08-042019-11-020001498301us-gaap:CommonStockMember2019-08-042019-11-020001498301us-gaap:AdditionalPaidInCapitalMember2019-08-042019-11-020001498301asna:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:AccountingStandardsUpdate201602Member2019-08-030001498301asna:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201602Member2019-08-030001498301us-gaap:CommonStockMember2019-11-020001498301us-gaap:AdditionalPaidInCapitalMember2019-11-020001498301us-gaap:RetainedEarningsMember2019-11-020001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-11-0200014983012019-11-020001498301us-gaap:RetainedEarningsMember2019-11-032020-02-0100014983012019-11-032020-02-010001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-11-032020-02-010001498301us-gaap:CommonStockMember2019-11-032020-02-010001498301us-gaap:AdditionalPaidInCapitalMember2019-11-032020-02-010001498301us-gaap:CommonStockMember2020-02-010001498301us-gaap:AdditionalPaidInCapitalMember2020-02-010001498301us-gaap:RetainedEarningsMember2020-02-010001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-02-0100014983012020-02-010001498301us-gaap:CommonStockMember2020-02-022020-05-020001498301us-gaap:AdditionalPaidInCapitalMember2020-02-022020-05-020001498301us-gaap:CommonStockMember2020-05-020001498301us-gaap:AdditionalPaidInCapitalMember2020-05-020001498301us-gaap:RetainedEarningsMember2020-05-020001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-05-020001498301us-gaap:CommonStockMember2018-08-040001498301us-gaap:AdditionalPaidInCapitalMember2018-08-040001498301us-gaap:RetainedEarningsMember2018-08-040001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-08-040001498301us-gaap:RetainedEarningsMember2018-08-052018-11-0300014983012018-08-052018-11-030001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-08-052018-11-030001498301us-gaap:CommonStockMember2018-08-052018-11-030001498301us-gaap:AdditionalPaidInCapitalMember2018-08-052018-11-030001498301asna:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMemberus-gaap:AccountingStandardsUpdate201409Member2018-08-040001498301asna:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccountingStandardsUpdate201409Member2018-08-040001498301us-gaap:CommonStockMember2018-11-030001498301us-gaap:AdditionalPaidInCapitalMember2018-11-030001498301us-gaap:RetainedEarningsMember2018-11-030001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-11-0300014983012018-11-030001498301us-gaap:RetainedEarningsMember2018-11-042019-02-0200014983012018-11-042019-02-020001498301us-gaap:CommonStockMember2018-11-042019-02-020001498301us-gaap:AdditionalPaidInCapitalMember2018-11-042019-02-020001498301us-gaap:CommonStockMember2019-02-020001498301us-gaap:AdditionalPaidInCapitalMember2019-02-020001498301us-gaap:RetainedEarningsMember2019-02-020001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-02-0200014983012019-02-020001498301us-gaap:RetainedEarningsMember2019-02-032019-05-040001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-02-032019-05-040001498301us-gaap:CommonStockMember2019-02-032019-05-040001498301us-gaap:AdditionalPaidInCapitalMember2019-02-032019-05-040001498301us-gaap:CommonStockMember2019-05-040001498301us-gaap:AdditionalPaidInCapitalMember2019-05-040001498301us-gaap:RetainedEarningsMember2019-05-040001498301us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-05-04asna:Store00014983012018-08-052019-08-03asna:segment0001498301asna:JusticeMember2020-05-020001498301asna:LaneBryantMember2020-05-020001498301asna:LoftMember2020-05-020001498301asna:CatherinesMember2020-05-020001498301asna:ANNMember2020-05-020001498301us-gaap:RevolvingCreditFacilityMember2020-03-162020-03-160001498301asna:DressbarnwinddownMember2020-05-020001498301asna:DressbarnwinddownMember2019-08-042020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:DressbarnMember2020-02-022020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:DressbarnMember2019-02-032019-05-040001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:DressbarnMember2019-08-042020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:DressbarnMember2018-08-052019-05-040001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:DressbarnMember2020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:DressbarnMember2019-08-030001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2019-05-052019-08-03xbrli:pure0001498301asna:MauricesBrandMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2019-08-030001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2020-02-022020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2019-02-032019-05-040001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2019-08-042020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2018-08-052019-05-040001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2019-08-042020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2018-08-052019-05-0400014983012019-12-192019-12-190001498301us-gaap:AccountingStandardsUpdate201602Member2019-08-040001498301srt:MinimumMember2020-05-020001498301srt:MaximumMember2020-05-020001498301us-gaap:AccountingStandardsUpdate201602Member2020-05-020001498301us-gaap:AccountingStandardsUpdate201602Member2019-08-03utr:Rate0001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2020-02-022020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMember2019-02-032019-05-040001498301asna:ApparelMember2020-02-022020-05-020001498301asna:ApparelMember2019-02-032019-05-040001498301asna:ApparelMember2019-08-042020-05-020001498301asna:ApparelMember2018-08-052019-05-040001498301asna:AccessoriesMember2020-02-022020-05-020001498301asna:AccessoriesMember2019-02-032019-05-040001498301asna:AccessoriesMember2019-08-042020-05-020001498301asna:AccessoriesMember2018-08-052019-05-040001498301asna:OtherMember2020-02-022020-05-020001498301asna:OtherMember2019-02-032019-05-040001498301asna:OtherMember2019-08-042020-05-020001498301asna:OtherMember2018-08-052019-05-040001498301asna:ANNMember2020-02-022020-05-020001498301asna:JusticeMember2020-02-022020-05-020001498301asna:AnnTaylorMemberus-gaap:TrademarksAndTradeNamesMember2020-02-022020-05-020001498301asna:LoftMemberus-gaap:TrademarksAndTradeNamesMember2020-02-022020-05-020001498301asna:JusticeMemberus-gaap:TrademarksAndTradeNamesMember2020-02-022020-05-020001498301asna:CatherinesMemberus-gaap:TrademarksAndTradeNamesMember2020-02-022020-05-020001498301asna:JusticeMemberus-gaap:FranchiseRightsMember2020-02-022020-05-020001498301asna:LoftMember2020-02-010001498301asna:ANNMember2019-11-032020-02-010001498301asna:JusticeMember2019-11-032020-02-010001498301asna:AnnTaylorMemberus-gaap:TrademarksAndTradeNamesMember2019-11-032020-02-010001498301asna:JusticeMemberus-gaap:TrademarksAndTradeNamesMember2019-11-032020-02-010001498301asna:CatherinesMemberus-gaap:TrademarksAndTradeNamesMember2019-11-032020-02-010001498301asna:JusticeMemberus-gaap:FranchiseRightsMember2019-11-032020-02-010001498301asna:CatherinesMember2019-05-040001498301asna:LaneBryantMemberus-gaap:TrademarksAndTradeNamesMember2018-08-052019-05-040001498301asna:CatherinesMemberus-gaap:TrademarksAndTradeNamesMember2018-08-052019-05-040001498301asna:LaneBryantMember2019-02-032019-05-040001498301asna:CatherinesMember2019-02-032019-05-040001498301asna:PremiumFashionMember2019-08-030001498301asna:KidsFashionMember2019-08-030001498301asna:PremiumFashionMember2019-08-042020-05-020001498301asna:KidsFashionMember2019-08-042020-05-020001498301asna:PremiumFashionMember2020-05-020001498301asna:KidsFashionMember2020-05-020001498301us-gaap:TrademarksAndTradeNamesMember2020-05-020001498301us-gaap:TrademarksAndTradeNamesMember2019-08-030001498301us-gaap:FranchiseRightsMember2020-05-020001498301us-gaap:FranchiseRightsMember2019-08-030001498301us-gaap:TechnologyBasedIntangibleAssetsMember2020-05-020001498301us-gaap:TechnologyBasedIntangibleAssetsMember2019-08-030001498301us-gaap:CustomerRelationshipsMember2020-05-020001498301us-gaap:CustomerRelationshipsMember2019-08-030001498301us-gaap:OffMarketFavorableLeaseMember2020-05-020001498301us-gaap:OffMarketFavorableLeaseMember2019-08-030001498301us-gaap:TradeNamesMember2020-05-020001498301us-gaap:TradeNamesMember2019-08-030001498301asna:AnnTaylorMemberus-gaap:TrademarksAndTradeNamesMember2019-08-042020-05-020001498301asna:LoftMemberus-gaap:TrademarksAndTradeNamesMember2019-08-042020-05-020001498301asna:LaneBryantMemberus-gaap:TrademarksAndTradeNamesMember2019-08-042020-05-020001498301asna:CatherinesMemberus-gaap:TrademarksAndTradeNamesMember2019-08-042020-05-020001498301asna:JusticeMemberus-gaap:TrademarksAndTradeNamesMember2019-08-042020-05-020001498301asna:JusticeMemberus-gaap:FranchiseRightsMember2019-08-042020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:PremiumFashionMember2020-02-022020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:PremiumFashionMember2019-02-032019-05-040001498301asna:StoreRelatedFixedAssetsMemberasna:PremiumFashionMember2019-08-042020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:PremiumFashionMember2018-08-052019-05-040001498301asna:StoreRelatedFixedAssetsMemberasna:PlusFashionMember2020-02-022020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:PlusFashionMember2019-02-032019-05-040001498301asna:StoreRelatedFixedAssetsMemberasna:PlusFashionMember2019-08-042020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:PlusFashionMember2018-08-052019-05-040001498301asna:StoreRelatedFixedAssetsMemberasna:KidsFashionMember2020-02-022020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:KidsFashionMember2019-02-032019-05-040001498301asna:StoreRelatedFixedAssetsMemberasna:KidsFashionMember2019-08-042020-05-020001498301asna:StoreRelatedFixedAssetsMemberasna:KidsFashionMember2018-08-052019-05-040001498301asna:StoreRelatedFixedAssetsMember2020-02-022020-05-020001498301asna:StoreRelatedFixedAssetsMember2019-02-032019-05-040001498301asna:StoreRelatedFixedAssetsMember2019-08-042020-05-020001498301asna:StoreRelatedFixedAssetsMember2018-08-052019-05-040001498301us-gaap:CorporateMember2020-02-022020-05-020001498301asna:CashrelatedrestructuringchargesMember2020-02-022020-05-020001498301asna:CashrelatedrestructuringchargesMember2019-02-032019-05-040001498301asna:CashrelatedrestructuringchargesMember2019-08-042020-05-020001498301asna:CashrelatedrestructuringchargesMember2018-08-052019-05-040001498301us-gaap:EmployeeSeveranceMember2019-08-030001498301us-gaap:OtherRestructuringMember2019-08-030001498301us-gaap:EmployeeSeveranceMember2019-08-042020-05-020001498301us-gaap:OtherRestructuringMember2019-08-042020-05-020001498301us-gaap:EmployeeSeveranceMember2020-05-020001498301us-gaap:OtherRestructuringMember2020-05-020001498301asna:PremiumFashionMember2019-05-040001498301asna:PlusFashionMember2020-05-020001498301asna:PlusFashionMember2019-08-030001498301asna:PlusFashionMember2019-05-040001498301asna:KidsFashionMember2019-05-040001498301asna:PlusFashionAndKidsFashionMember2019-08-042020-05-020001498301asna:MauricesBrandMember2019-05-060001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2019-08-030001498301srt:MinimumMember2019-08-042020-05-020001498301srt:MaximumMember2019-08-042020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMember2020-05-020001498301us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberasna:MauricesBrandMemberus-gaap:OtherNoncurrentAssetsMember2020-05-020001498301us-gaap:RevolvingCreditFacilityMember2020-05-020001498301us-gaap:RevolvingCreditFacilityMember2019-08-030001498301asna:TermLoanFacilityMember2020-05-020001498301asna:TermLoanFacilityMember2019-08-030001498301us-gaap:RevolvingCreditFacilityMember2018-02-270001498301us-gaap:RevolvingCreditFacilityMemberus-gaap:LetterOfCreditMember2019-09-200001498301us-gaap:RevolvingCreditFacilityMemberasna:SwinglineLoansMember2018-02-270001498301us-gaap:RevolvingCreditFacilityMember2018-02-272018-02-270001498301us-gaap:RevolvingCreditFacilityMembersrt:MaximumMemberasna:TermLoanFacilityMember2018-02-272018-02-270001498301us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2020-05-020001498301us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2020-05-020001498301us-gaap:RevolvingCreditFacilityMemberus-gaap:BaseRateMember2019-08-042020-05-020001498301us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2018-02-272018-02-270001498301us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2018-02-272018-02-270001498301asna:TermLoanFacilityMember2015-08-310001498301asna:TermLoanFacilityMember2019-08-042020-05-020001498301asna:TermLoanFacilityMember2018-08-052018-11-030001498301srt:ScenarioForecastMemberasna:TermLoanFacilityMember2020-11-012020-11-300001498301asna:TermLoanFacilityMemberasna:EurodollarBorrowingsMember2020-05-020001498301us-gaap:SubsequentEventMember2020-05-28asna:derivative0001498301us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-05-020001498301us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-05-020001498301us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-08-030001498301us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberasna:AccruedExpensesandOtherCurrentLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-05-020001498301us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberasna:AccruedExpensesandOtherCurrentLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-08-030001498301us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMember2019-08-030001498301srt:ScenarioForecastMemberus-gaap:InterestExpenseMember2020-05-032021-05-020001498301us-gaap:FairValueMeasurementsNonrecurringMember2019-08-030001498301us-gaap:FairValueMeasurementsNonrecurringMember2019-08-042020-05-02asna:building0001498301us-gaap:FairValueMeasurementsNonrecurringMember2020-05-020001498301us-gaap:FairValueMeasurementsNonrecurringMember2018-08-040001498301us-gaap:FairValueMeasurementsNonrecurringMember2018-08-052019-05-040001498301us-gaap:FairValueMeasurementsNonrecurringMember2019-05-040001498301us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:FairValueMeasurementsNonrecurringMember2019-08-030001498301us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:FairValueMeasurementsNonrecurringMember2019-08-042020-05-020001498301us-gaap:SegmentDiscontinuedOperationsMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-05-020001498301us-gaap:DomesticCountryMember2019-02-032019-05-040001498301us-gaap:StateAndLocalJurisdictionMember2019-02-032019-05-0400014983012019-12-1800014983012019-12-190001498301asna:StockRepurchaseProgram2016Member2015-12-310001498301asna:StockRepurchaseProgram2016Member2019-08-042020-05-020001498301asna:StockRepurchaseProgram2016Member2020-02-022020-05-020001498301asna:StockRepurchaseProgram2016Member2020-05-020001498301asna:OmnibusIncentivePlan2016AmendedMember2018-11-012018-11-300001498301asna:OmnibusIncentivePlan2016AmendedMember2018-11-300001498301asna:OmnibusIncentivePlan2016Member2020-05-020001498301asna:ServiceBasedStockOptionMember2019-08-042020-05-020001498301asna:ServiceBasedStockOptionMember2018-08-052019-05-040001498301asna:ServiceBasedStockOptionMember2019-08-030001498301asna:ServiceBasedStockOptionMember2019-08-042019-11-020001498301asna:ServiceBasedStockOptionMember2020-05-020001498301asna:MarketBasedStockOptionsMember2019-08-042020-05-020001498301asna:MarketBasedStockOptionsMember2020-05-020001498301asna:ServiceBasedRestrictedEquityAwardsMember2019-08-030001498301asna:ServiceBasedRestrictedEquityAwardsMember2019-08-042020-05-020001498301asna:ServiceBasedRestrictedEquityAwardsMember2020-05-020001498301asna:MarketBasedRestrictedEquityAwardsMember2020-05-020001498301asna:MarketBasedRestrictedEquityAwardsMember2019-08-042020-05-020001498301srt:MinimumMemberasna:LongTermIncentiveProgramMember2019-08-042020-05-020001498301srt:MaximumMemberasna:LongTermIncentiveProgramMember2019-08-042020-05-020001498301asna:CashSettledLTIPAwardsMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2019-08-042020-05-020001498301asna:CashSettledLTIPAwardsMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2018-08-052019-05-040001498301asna:CashSettledLTIPAwardsMember2020-05-020001498301asna:CashSettledLTIPAwardsMember2019-08-042020-05-020001498301asna:AccruedExpensesandOtherCurrentLiabilitiesMemberasna:CashSettledLTIPAwardsMember2020-05-020001498301asna:CashSettledLTIPAwardsMemberus-gaap:OtherNoncurrentLiabilitiesMember2020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMember2020-02-022020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMember2019-02-032019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMember2019-08-042020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMember2018-08-052019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMember2020-02-022020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMember2019-02-032019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMember2019-08-042020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMember2018-08-052019-05-040001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMember2020-02-022020-05-020001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMember2019-02-032019-05-040001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMember2019-08-042020-05-020001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMember2018-08-052019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMemberasna:CashrelatedrestructuringchargesMember2020-02-022020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMemberasna:CashrelatedrestructuringchargesMember2019-02-032019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMemberasna:CashrelatedrestructuringchargesMember2019-08-042020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PremiumFashionMemberasna:CashrelatedrestructuringchargesMember2018-08-052019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMemberasna:CashrelatedrestructuringchargesMember2020-02-022020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMemberasna:CashrelatedrestructuringchargesMember2019-02-032019-05-040001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMemberasna:CashrelatedrestructuringchargesMember2019-08-042020-05-020001498301us-gaap:OperatingSegmentsMemberasna:PlusFashionMemberasna:CashrelatedrestructuringchargesMember2018-08-052019-05-040001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMemberasna:CashrelatedrestructuringchargesMember2020-02-022020-05-020001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMemberasna:CashrelatedrestructuringchargesMember2019-02-032019-05-040001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMemberasna:CashrelatedrestructuringchargesMember2019-08-042020-05-020001498301us-gaap:OperatingSegmentsMemberasna:KidsFashionMemberasna:CashrelatedrestructuringchargesMember2018-08-052019-05-040001498301asna:CashrelatedrestructuringchargesMemberus-gaap:CorporateNonSegmentMember2020-02-022020-05-020001498301asna:CashrelatedrestructuringchargesMemberus-gaap:CorporateNonSegmentMember2019-02-032019-05-040001498301asna:CashrelatedrestructuringchargesMemberus-gaap:CorporateNonSegmentMember2019-08-042020-05-020001498301asna:CashrelatedrestructuringchargesMemberus-gaap:CorporateNonSegmentMember2018-08-052019-05-040001498301us-gaap:SubsequentEventMemberasna:ConsentingStakeholdersMemberasna:TermLoanFacilityMember2020-07-232020-07-230001498301us-gaap:SubsequentEventMemberasna:RestructuringSupportAgreementRSAMember2020-07-230001498301us-gaap:SubsequentEventMemberasna:ConsentingStakeholdersMember2020-07-232020-07-230001498301us-gaap:SubsequentEventMemberasna:BackstopPartiesMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMember2020-07-230001498301us-gaap:SubsequentEventMemberasna:TermLoanLendersMember2020-07-232020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:LastOutExitTermFacilityMember2020-07-230001498301us-gaap:SubsequentEventMemberasna:BackstopPartiesMemberus-gaap:SecuredDebtMemberasna:NewMoneyDIPLoansMember2020-07-230001498301us-gaap:SubsequentEventMemberasna:BackstopPartiesMemberus-gaap:SecuredDebtMemberasna:RollUpDIPLoansMember2020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberus-gaap:BaseRateMembersrt:MinimumMember2020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberus-gaap:BaseRateMember2020-07-232020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMembersrt:MinimumMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-07-232020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberasna:ApplicableRateMember2020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberasna:PrepetitionTermLendersMember2020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberasna:BackstopPartiesMember2020-07-230001498301us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberasna:DebtorInPossessionTermLoanCreditFacilityDIPTermFacilityMemberasna:TermLoanLendersMember2020-07-230001498301us-gaap:SubsequentEventMember2020-05-262020-05-260001498301us-gaap:SubsequentEventMemberasna:AscenaRetailGroupIncMember2020-05-260001498301us-gaap:SubsequentEventMemberus-gaap:SeriesAPreferredStockMember2020-05-260001498301us-gaap:SubsequentEventMember2020-05-260001498301us-gaap:SubsequentEventMembersrt:ScenarioForecastMemberasna:CashSettledLTIPAwardsMember2020-06-012020-06-300001498301us-gaap:SubsequentEventMember2020-06-292020-06-290001498301us-gaap:SubsequentEventMemberus-gaap:SeriesAPreferredStockMember2020-06-05

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
(Mark One) 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the Quarterly Period Ended May 2, 2020
 
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
Commission File Number: 001-39300
 
ASCENA RETAIL GROUP, INC.
(Exact name of registrant as specified in its charter)
 
Delaware 30-0641353
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
933 MacArthur Boulevard 
Mahwah, New Jersey 07430
(Address of principal executive offices) (Zip Code)

(551) 777-6700
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)
Name of each exchange on which registered *
Common Stock, par value $0.01 per share
*
*

* On July 24, 2020, Ascena Retail Group, Inc. (the “Company”) was notified by the Listing Qualifications Department staff of the Nasdaq Stock Market (“Nasdaq”) that it had determined to commence proceedings to delist the Company’s common stock from Nasdaq.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 ¨
Accelerated filer
 ý
Non-accelerated filer
 ¨
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No ý
The Registrant had 10,087,408 shares of common stock outstanding as of August 5, 2020.






INDEX
 
PART I.  FINANCIAL INFORMATION (Unaudited)
  Page
Item 1.Condensed Consolidated Financial Statements: 
   
 Condensed Consolidated Balance Sheets
 Condensed Consolidated Statements of Operations
 Condensed Consolidated Statements of Comprehensive Loss
 Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Shareholders’ (Deficit) Equity
 Notes to Condensed Consolidated Financial Statements
   
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
   
Item 3.Quantitative and Qualitative Disclosures About Market Risk
   
Item 4.Controls and Procedures
   
PART II. OTHER INFORMATION
 
Item 1.Legal Proceedings
   
Item 1A.Risk Factors
   
Item 6.Exhibits
   
Signatures 






ASCENA RETAIL GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS 
May 2,
2020
August 3,
2019
(millions, except share data in thousands and per share data)
(unaudited)
ASSETS
Current assets:  
Cash and cash equivalents$438.7  $323.8  
Inventories449.7  490.7  
Prepaid expenses and other current assets158.5  242.3  
Current assets held for sale25.8    
Current assets related to discontinued operations6.1  98.2  
Total current assets1,078.8  1,155.0  
Property and equipment, net517.2  835.5  
Operating lease right-of-use assets637.6    
Goodwill164.6  313.5  
Other intangible assets, net176.0  276.6  
Equity method investment53.1  42.1  
Other assets55.0  65.6  
Non-current assets related to discontinued operations  11.5  
Total assets$2,682.3  $2,699.8  
LIABILITIES AND EQUITY
Current liabilities:  
Accounts payable$415.7  $316.1  
Accrued expenses and other current liabilities191.8  273.3  
Deferred income127.8  114.1  
Current portion of lease liabilities167.7    
Current portion of long-term debt1,498.3    
Current liabilities related to discontinued operations35.8  94.7  
Total current liabilities2,437.1  798.2  
Long-term debt  1,338.6  
Lease-related liabilities  204.6  
Deferred income taxes7.1  0.5  
Long-term lease liabilities669.3    
Other non-current liabilities134.1  171.4  
Non-current liabilities related to discontinued operations5.5  35.5  
Total liabilities3,253.1  2,548.8  
Commitments and contingencies (Note 18)
Shareholders’ (Deficit) Equity:  
Common stock, par value $0.01 per share; 10,046 and 9,925 shares issued and outstanding as of May 2, 2020 and August 3, 2019, respectively
0.1  0.1  
Additional paid-in capital1,105.8  1,102.5  
Accumulated deficit(1,656.6) (935.9) 
Accumulated other comprehensive loss(20.1) (15.7) 
Total shareholders (deficit) equity(570.8) 151.0  
Total liabilities and shareholders’ (deficit) equity$2,682.3  $2,699.8  
See accompanying notes.
3


ASCENA RETAIL GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 
Three Months EndedNine Months Ended
May 2,
2020
May 4,
2019
May 2,
2020
May 4,
2019
(millions, except share data in thousands and per share data)
(unaudited)
Net sales$601.2  $1,088.4  $2,937.7  $3,507.2  
Cost of goods sold(415.4) (461.1) (1,452.6) (1,528.1) 
Gross margin185.8  627.3  1,485.1  1,979.1  
Other operating expenses:  
Buying, distribution and occupancy expenses(190.4) (235.7) (634.8) (715.9) 
Selling, general and administrative expenses(412.4) (407.7) (1,147.9) (1,178.5) 
Restructuring and other related charges1.2  (6.6) (2.1) (28.0) 
Impairment of goodwill(85.5) (115.1) (148.9) (115.1) 
Impairment of other intangible assets(41.3) (25.0) (88.2) (25.0) 
Depreciation and amortization expense(57.8) (67.4) (189.4) (209.4) 
Total other operating expenses(786.2) (857.5) (2,211.3) (2,271.9) 
Operating loss(600.4) (230.2) (726.2) (292.8) 
Interest expense(24.9) (27.2) (76.6) (80.1) 
Interest income and other income, net0.6  0.1  3.9  1.9  
Gain on extinguishment of debt    28.5    
Loss from continuing operations before (provision) benefit for income taxes and income from equity method investment(624.7) (257.3) (770.4) (371.0) 
(Provision) benefit for income taxes from continuing operations(5.7) 38.9  (9.2) 48.2  
(Loss) income from equity method investment(12.3)   11.0    
Loss from continuing operations(642.7) (218.4) (768.6) (322.8) 
(Loss) income from discontinued operations, net of taxes (a)
(0.8) (19.5) 59.4  19.3  
Net loss$(643.5) $(237.9) $(709.2) $(303.5) 
Net (loss) income per common share - basic:  
Continuing operations$(64.25) $(22.10) $(77.08) $(32.73) 
Discontinued operations(0.08) (1.97) 5.96  1.96  
Total net loss per basic common share$(64.33) $(24.07) $(71.12) $(30.77) 
Net (loss) income per common share - diluted:  
Continuing operations$(64.25) $(22.10) $(77.08) $(32.73) 
Discontinued operations(0.08) (1.97) 5.96  1.96  
Total net loss per diluted common share$(64.33) $(24.07) $(71.12) $(30.77) 
Weighted average common shares outstanding:
Basic10,003  9,882  9,972  9,864  
Diluted10,003  9,882  9,972  9,864  
 _______

(a) Income from discontinued operations is presented net of income tax expense of $32.9 million and $44.1 million for the three and nine months ended May 4, 2019, respectively. No taxes related to discontinued operations were recorded during the three and nine months ended May 2, 2020.

See accompanying notes.
4


ASCENA RETAIL GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

 Three Months EndedNine Months Ended
 May 2,
2020
May 4,
2019
May 2,
2020
May 4,
2019
(millions)
(unaudited)
Net loss$(643.5) $(237.9) $(709.2) $(303.5) 
Other comprehensive loss, net of tax:
Foreign currency translation adjustment (2.9) (0.7) (2.3) (1.1) 
Reclassification of interest rate hedge deferred loss into earnings1.7    2.6    
Deferred loss related to interest rate hedge(3.5)   (4.7)   
Total other comprehensive loss, net of tax(4.7) (0.7) (4.4) (1.1) 
Total comprehensive loss$(648.2) $(238.6) $(713.6) $(304.6) 

 
 









































See accompanying notes.
5


ASCENA RETAIL GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 
 Nine Months Ended
May 2,
2020
May 4,
2019
(millions)
(unaudited)
Cash flows from operating activities: 
Net loss$(709.2) $(303.5) 
Adjustments to reconcile net loss to net cash used in operating activities:  
Depreciation and amortization expense200.3  243.4  
Deferred income tax provision (benefit)14.9  (13.7) 
Deferred rent and other costs recognized under prior lease accounting standard  (30.1) 
Stock-based compensation expense3.2  10.5  
Impairment of goodwill148.9  115.1  
Impairment of other intangible assets88.2  25.0  
Impairment of tangible assets170.1  37.4  
Income from equity method investment(11.0)   
Non-cash interest expense7.6  7.4  
Gain on extinguishment of debt(28.5)   
Gain on sale of property and equipment  (0.3) 
Gain on sale of other intangible assets(5.0)   
Other non-cash income, net(12.9) (4.0) 
Changes in operating assets and liabilities:  
Inventories98.0  (118.2) 
Accounts payable, accrued liabilities and income tax liabilities(51.5) (81.1) 
Deferred income15.8  33.0  
Lease-related liabilities  8.3  
Operating lease right-of-use assets and lease liabilities(8.0)   
Other balance sheet changes, net60.9  42.1  
Cash flows used in operating activities
(18.2) (28.7) 
Cash flows from investing activities:  
Capital expenditures(56.8) (103.8) 
Proceeds from the sale of assets  1.0  
Proceeds from the sale of intangible assets5.0    
Cash flows used in investing activities
(51.8) (102.8) 
Cash flows from financing activities:  
Redemptions of term loan debt(49.4)   
Proceeds from revolver borrowings230.0  28.1  
Repayments of revolver borrowings  (28.1) 
Tax payments related to share-based awards  (0.6) 
Proceeds from stock options exercised and employee stock purchases0.1  0.6  
Cash flows provided by financing activities180.7    
Net increase (decrease) in cash, cash equivalents and restricted cash110.7  (131.5) 
Cash, cash equivalents and restricted cash at beginning of period329.2  240.1  
Cash, cash equivalents and restricted cash at end of period$439.9  $108.6  






See accompanying notes.
6


ASCENA RETAIL GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ (DEFICIT) EQUITY
 
 Common StockAdditional
Paid-In
Capital
Accumulated DeficitAccumulated Other Comprehensive LossTotal Shareholders’ (Deficit) Equity
Fiscal 2020SharesAmount
(millions, except share data in thousands)
(unaudited)
Balance, August 3, 20199,925  $0.1  $1,102.5  $(935.9) $(15.7) $151.0  
Net income—  —  —  31.7  —  31.7  
Total other comprehensive income—  —  —  —  0.2  0.2  
Shares issued and equity grants made pursuant to stock-based compensation plans
47  —  1.6  —  —  1.6  
Cumulative effect of change in accounting upon adoption of ASC Topic 842
—  —  —  (11.5) —  (11.5) 
Balance, November 2, 20199,972  0.1  1,104.1  (915.7) (15.5) 173.0  
Net loss—  —  —  (97.4) —  (97.4) 
Total other comprehensive income—  —  —  —  0.1  0.1  
Shares issued and equity grants made pursuant to stock-based compensation plans
14  —  0.9  —  —  0.9  
Balance, February 1, 20209,9860.1  1,105.0  (1,013.1) (15.4) 76.6  
Net loss—  —  —  (643.5) —  (643.5) 
Total other comprehensive loss—  —  —  —  (4.7) (4.7) 
Shares issued and equity grants made pursuant to stock-based compensation plans
60  —  0.8  —  —  0.8  
Balance, May 2, 202010,046$0.1  $1,105.8  $(1,656.6) $(20.1) $(570.8) 


 Common StockAdditional
Paid-In
Capital
Accumulated DeficitAccumulated Other Comprehensive LossTotal Shareholders’
Equity
Fiscal 2019SharesAmount
(millions, except share data in thousands)
(unaudited)
Balance, August 4, 20189,817  $0.1  $1,090.1  $(278.8) $(12.9) $798.5  
Net income—  —  —  5.9  —  5.9  
Total other comprehensive loss—  —  —  —