RTTNews | Dec 11, 2020 07:47AM EST

07:46 Friday, December 11, 2020 (RTTNews.com) - Ascena Retail Group, Inc. (ASNA) said it now expects first quarter revenue will be in the range of $565-$585 million, down from $1.06 billion, prior year. As a result, the company projects a significant decline in first quarter operating income.

The company ended the first quarter with outstanding pre-petition term loan debt of approximately $1.109 billion and outstanding borrowings under its new DIP term loan credit facility of approximately $312 million. Also, the company currently estimates that it will report cash and cash equivalents as of October 31, 2020 in the range of $375-$385 million.

Ascena Retail Group noted that the Chapter 11 Cases could have a material effect on the its cash and debt balances.

Read the original article on RTTNews ( https://www.rttnews.com/3153036/ascena-retail-projects-significant-decline-in-q1-operating-income-quick-facts.aspx)

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