Ascena Retail: Investment Thesis Intact Despite Recent Sell-Off [Seeking Alpha]
ASCENA RETAIL GROUP (ASNA)
Last ascena retail group earnings: 6/10 04:06 pm
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US:NASDAQ Investor Relations:
ascenaretail.com/investors.jsp
Company Research
Source: Seeking Alpha
Ascena Retail: Investment Thesis Intact Despite Recent Sell-Off Summary Interest payments not anywhere near being a burden given the company's real economic earnings. Investors aren't focusing on cash flows. Non-cash charges have been the main drag on GAAP profitability, not just cash expenses. These non-cash charges are decreasing each year, pointing towards profitability over the next couple of years. Positive FCF along with a $600m credit revolver gives the company a long runway to complete its turnaround. The company's adaptation to the omnichannel model is a very good sign. Omnichannel has been successful for specialty retailers. Currently trading at around 1 times my projected 2022 earnings, I still believe there's huge upside in ASNA. As a value investor, apart from looking at relatively undervalued high-quality companies, I also tend to look for opportunities in the most hated sectors in the market. Unlike cigar-butt opportunities, I look for an important difference of opinion
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