FINANCE

Ascena Retail Group Q3 profit up 8%

BY CSA STAFF

Suffern, N.Y. — Ascena Retail Group Inc. said Wednesday that its fiscal third-quarter profit rose 8% on increased sales at its Dressbarn, Maurices and Justice clothing stores.

The retailer, formerly known as The Dress Barn Inc., reported net income of $51.8 million for the three months ended April 30, up from $48 million in the year-ago period.

Revenue rose 9% to $722.8 million from $665.5 million in the same quarter a year ago. Dressbarn revenue rose 5% in the quarter, and Maurices revenue jumped 17%. Justice sales rose 6%.

Across the three brands, same-store sales increased 6%.

The revenue growth was partly offset by a nearly 10% increase in selling, general and administrative expenses, which rose to $213.6 million from $194.9 million in the year-ago quarter, as marketing costs increased.

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FINANCE

Tiffany shines as Q1 profit surges 25%

BY CSA STAFF

New York — Tiffany & Co. said Thursday its first-quarter profit rose 25% on higher revenue across all regions worldwide. The results beat expectations and the company raised its forecast for the year above current Wall Street estimates.

Tiffany net income rose to $81.1 million for the three months ended April 30, up from $64.4 million a year earlier.

Revenue jumped 20% to $761 million from $633.6 million last year, sharply higher than analyst predictions of $702.6 million.

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Oracle’s debuts next-generation business intelligence applications

BY CSA STAFF

Redwood Shores, Calif. — Oracle on Thursday unveiled a prebuilt business intelligence application for retailers.

The new application, Oracle Retail Merchandising Analytics, uses Oracle Business Intelligence applications to access and analyze data from multiple applications such as financial and workforce management, customer relationship management (CRM) and retail operations.

Included across all of the business intelligence dashboards is the ability to act on those insights, enabling users to order more stock, re-allocate merchandise or kick off a promotion triggered by metric thresholds. This type of “closed-loop or guided analytics” uses embedded actions to make it easier for users to act on the information they view in a dashboard or report.

“As competition accelerates across mobile, e-commerce and retail channels, retailers require business intelligence solutions that address their unique challenges,” said David Dorf, senior director, product strategy, Oracle Retail. “Oracle Retail Analytics deliver the best of our retail-industry expertise combined with Oracle’s best-in-class technology to help customers better analyze the deluge of data generated across all channels.”

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