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Ascena to Build Cash Position and Return to ‘Sustainable Growth’ After Q4 Loss

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Ascena Retail Group was expected to post fourth-quarter profits, but managed only to beat Wall Street’s expectations for sales in the quarter. In a Nutshell: Ascena ended up in the red for the quarter ended Aug. 3, hurt by higher promotional activity to clear out elevated inventory levels. Interim executive chairman Carrie Teffner didn’t rule…

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