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ASNA

Ascena Retail

$5.60

-0.02 (-0.36%)

18:09
10/04/16
10/04
18:09
10/04/16
18:09

Ascena Retail sees additional $100M-$150M in cost savings by FY19

After more than six months of extensive planning, ascena retail group begins the execution phase of its major enterprise transformation plan. In addition to the ongoing implementation of its $235M cost-savings initiative associated with its integration of ANN INC., the Company expects its new Change for Growth program will deliver an incremental $100M-$150M of cost savings by fiscal 2019. The Change for Growth program will refine ascena's operating model to increase its focus on key customer segments, improve its time-to-market, reduce working capital, and enhance its ability to serve its customer on any purchasing platform, all while better leveraging the company's powerful shared services platform. The Company is making significant organizational changes as part of its accelerated execution plan, and has restructured its business into four operating segments.

ASNA Ascena Retail
$5.60

-0.02 (-0.36%)

09/20/16
09/20/16
DOWNGRADE

Perform
Ascena Retail downgraded to Perform at Oppenheimer
As previously reported, Oppenheimer analyst Anna Andreeva downgraded Ascena Retail to Perform from Outperform following the company's "disappointing" Q4 EPS miss. The analyst says that while Justice's turnaround is proceeding on plan, volatility across other divisions keeps her sidelined.
09/20/16
RBCM
09/20/16
DOWNGRADE
RBCM
Sector Perform
Ascena Retail downgraded on Q4 results at RBC Capital
As noted earlier, RBC Capital downgraded Ascena to Sector Perform from Outperform. Analyst Brian Tunick downgraded the stock based on the company's Q4 EPS miss and its lower than expected fiscal 2017 EPS guidance. Target $7.
09/20/16
RHCO
09/20/16
NO CHANGE
RHCO
Ascena Retail outlook still positive despite Q4 miss, says SunTrust
SunTrust analyst Pamela Quintiliano says that Ascena's initiatives remain on track, as the momentum of its Justice unit should continue during the holiday season. She thinks that the company has multiple additional near-term positive catalysts. The analyst cut her price target on the shares to $8 from $10 but keeps a Buy rating on the stock.
09/20/16
09/20/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ford (F) downgraded to Neutral from Buy at Buckingham with analyst Joseph Amaturo saying he believes North American volume and pricing trends for trucks will deteriorate and is concerned that the passenger car market will remain challenged given stiff competition from Japanese and European OEMs that can heavily discount due to weak currencies. 2. General Mills (GIS) downgraded to Underperform from Neutral at Consumer Edge. 3. Ascena Retail (ASNA) downgraded to Sector Perform from Outperform at RBC Capital and to Perform from Outperform at Oppenheimer. 4. Avnet (AVT) downgraded to Hold from Buy at Stifel and to Sell from Hold at Cross Research. 5. HD Supply (HDS) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray saying it will take several quarters for the company to address its supply chain errors, and she expects the stock "to stay range bound over the medium term." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GMS

GMS Inc.

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-0.21 (-0.82%)

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  • 13

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HVT

Haverty Furniture

$22.15

0.15 (0.68%)

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Haverty Furniture sales for Q4 to date up about 1.1% »

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CONG

Congatec

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Syndicate
Congatec requests withdrawal of registration statement »

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TERP

TerraForm Power

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0.23 (1.83%)

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WDC

Western Digital

$63.85

1.76 (2.83%)

16:42
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Earnings
Western Digital raises Q2 adjusted EPS view to $2.10-$2.15 from $1.85-$1.95 »

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  • 06

    Dec

16:39
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General news
API crude inventories for week of December 2 »

API reports that crude…

PAC

GAP Airports

$83.57

3.09 (3.84%)

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WDC

Western Digital

$63.85

1.76 (2.83%)

, SSNLF

Samsung

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Hot Stocks
Western Digital renews patent cross-license agreement with Samsung »

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WDC

Western Digital

$63.85

1.76 (2.83%)

SSNLF

Samsung

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  • 06

    Dec

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    Dec

BPMC

Blueprint Medicines

$28.43

-0.22 (-0.77%)

16:36
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Syndicate
Blueprint Medicines files to sell $125M of common stock »

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BLUE

bluebird bio

$78.95

6.8 (9.42%)

16:33
12/06/16
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16:33
Syndicate
bluebird bio files to sell $200M of common stock »

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  • 08

    Dec

AIRT

Air T

$17.85

-0.15 (-0.83%)

16:32
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16:32
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Air T subsidiary awarded contract by Delta Air Lines »

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AVT

Avnet

$46.69

0.86 (1.88%)

, HRB

H&R Block

$22.69

0.55 (2.48%)

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Hot Stocks
Avnet names Kevin Summers chief information officer »

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AVT

Avnet

$46.69

0.86 (1.88%)

HRB

H&R Block

$22.69

0.55 (2.48%)

LOW

Lowe's

$72.46

-0.2 (-0.28%)

WHR

Whirlpool

$169.40

-0.6 (-0.35%)

KO

Coca-Cola

$40.57

-0.05 (-0.12%)

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  • 06

    Dec

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  • 09

    Dec

OHAI

OHA Investment

$2.63

-0.07 (-2.59%)

16:31
12/06/16
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Breaking Hot Stocks news story on OHA Investment »

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APDN

Applied DNA Sciences

$2.25

0.05 (2.27%)

16:30
12/06/16
12/06
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12/06/16
16:30
Syndicate
Breaking Syndicate news story on Applied DNA Sciences »

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  • 06

    Dec

  • 07

    Dec

16:30
12/06/16
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Options
Preliminary option volume of 12.8M today »

Preliminary option volume…

ANTH

Anthera

$1.47

-0.03 (-2.00%)

16:28
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Anthera promotes Craig Thompson to CEO »

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  • 07

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PES

Pioneer Energy

$6.70

0.45 (7.20%)

16:28
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Syndicate
Pioneer Energy announces offering of 9M shares of common stock »

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BBG

Bill Barrett

$8.01

0.12 (1.52%)

16:27
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Syndicate
Bill Barrett announces offering of 11.5M shares of common stock »

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  • 07

    Dec

PLAY

Dave & Buster's

$48.00

-0.83 (-1.70%)

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Dave & Buster's promotes Margo Manning to COO »

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  • 06

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IIVI

II-VI

$29.75

-0.2 (-0.67%)

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II-VI M Cubed announces new CogentuM product family »

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  • 16

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ALOG

Analogic

$90.35

-0.6 (-0.66%)

16:23
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Earnings
Analogic reports Q1 non-GAAP diluted EPS 43c, consensus 80c »

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  • 06

    Dec

ANTH

Anthera

$1.47

-0.03 (-2.00%)

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Anthera: blisibimod still demonstrates positive trends in 48 week analysis »

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  • 07

    Dec

SIG

Signet Jewelers

$93.98

0.34 (0.36%)

16:21
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Breaking Hot Stocks news story on Signet Jewelers »

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  • 06

    Dec

MRCY

Mercury Systems

$30.68

0.32 (1.05%)

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ADI

Analog Devices

$71.00

0.4 (0.57%)

, LLTC

Linear Technology

$61.79

0.18 (0.29%)

16:20
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Analog Devices completes long-term debt financing for Linear Technology merger »

Analog Devices (ADI)…

ADI

Analog Devices

$71.00

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LLTC

Linear Technology

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0.18 (0.29%)

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