Ascena Retail Group Inc., hurt by markdowns and a sales decline at its Justice division, reported a 73 percent drop in net earnings for the quarter ended Jan. 24 to $8.7 million from $31.9 million in the year ago period. The retailer said that for its second quarter of fiscal 2015, earnings from continuing operations were $0.05 per diluted share, compared to $0.19 in the same period of fiscal 2014. Adjusted earnings from continuing operations in the second quarter of fiscal 2015 were $0.07 per diluted share, compared to $0.23 in the prior year’s second quarter. Net sales for the quarter increased 1.7 percent to $1.29 billion, compared to $1.28 billion in the second quarter of fiscal 2014, as new store growth at Justice and Maurices and positive combined comparable sales at Lane Bryant, Maurices, Dress Barn and Catherines was offset by negative comparable sales at Justice. “Looking back on the second quarter, while conditions remained very challenging at Justice, we saw performance improve across our other brands as we moved through holiday into January,” said David Jaffe, president and chief executive officer. “We are excited about several of our major brand initiatives, including the continued rollout of our active-ath-leisure lines at multiple brands, our
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