March 5, 2018 / 9:21 PM / 6 months ago

BRIEF-Ascena Retail Group Reports Q2 GAAP Loss Per Share $0.20

March 5 (Reuters) - Ascena Retail Group Inc:

* ASCENA RETAIL GROUP, INC. REPORTS SECOND QUARTER RESULTS AND PROVIDES GUIDANCE FOR THIRD QUARTER OF FISCAL 2018; SECOND QUARTER GAAP EPS LOSS OF $0.20; NON-GAAP ADJUSTED EPS LOSS OF $0.12; COMPARABLE SALES DOWN 2PCT

* Q2 ADJUSTED NON-GAAP LOSS PER SHARE $0.12

* Q2 SALES $1.719 BILLION VERSUS $1.748 BILLION

* SEES Q3 2018 NON-GAAP LOSS PER SHARE $0.07 TO $0.12

* SEES Q2 GAAP LOSS PER SHARE $0.20

* REMAIN ON TRACK TO ACHIEVE $300 MILLION IN COST SAVINGS BY JULY 2019

* ASCENA RETAIL GROUP - ENDED Q2 OF FISCAL 2018 WITH INVENTORY OF $600 MILLION, DOWN 11PCT FROM $676 MILLION AT END OF YEAR-AGO PERIOD

* SEES COMPARABLE SALES IN RANGE OF DOWN 3PCT TO DOWN 5PCT FOR Q3

* FOR THREE MONTHS ENDED JANUARY 27, 2018, RECORDED TAX BENEFIT OF $22 MILLION ON PRE-TAX LOSS OF $61 MILLION Source text for Eikon: Further company coverage:

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