EFTA01365702.pdf

Earnings in the year through July 25 will be 57 cents to 60 cents a share, excluding some items, down from a previous projection of 70 cents to 75 cents, the Mahwah, New Jersey-based company said Friday in a statement. Analysts estimated 70 cents, on average. ChiefExecutive Officer David Jaffe is trying to revive sales at several flagging brands as mall traffic declines. He's also struggling to clear older merchandise from the Justice teen-apparel chain to focus on more versatile, everyday clothing. Ascena, which agreed to buy women's work-wear maker Ann Inc. in May for about $2.16 billion, fell as much as 16 percent to $13.80 in New York. That's the biggest intraday decline since Sept. 23. Ascena had risen 30 percent this year through the end of last week. For Related News and Information: Bloomberg Intelligence - Specialty Apparel Stores: BI APPR <GO> Top Stories: TOP <GO> To contact the reporter on this story: Lindsey Rupp in New York at +1-212-617-0452 or Irupp2@bloomberg.net To contact the editors responsible for this story: Nick Turner at +1-212-617-6783 or nturner7®bloomberg.net Kevin Orland This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. My unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@arnail.com and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0056690 CONFIDENTIAL SDNY GM_00202874 EFTA01365702