Apparel marketer, Ascena Retail Group reported flat sales growth for the first fiscal quarter that ended on October 25, 2014. Net sales of US $ 1.2 billion for the first quarter of fiscal 2015 were flat against the first quarter of fiscal 2014. Gross profit of the company for the reporting quarter increased slightly to US $ 694.5 million compared to US $ 693.2 million of the corresponding period. David Jaffe, CEO of the company said, “We continue to make progress on the key strategic projects that are forming our new operating platform.We remain excited about the power of this model, and we are now on the back side of the capital investment cycle that was required to achieve our vision for a centralized and efficient infrastructure base.” Ascena operates in about 3,900 stores throughout the US and Canada through its subsidiaries.
