The store expansion plan of Ascena Retail Group Inc.’s (ASNA) Lane Bryant brand continues in full swing with the opening of a new Cacique Lifestyle store at Newport Centre in Jersey City, NJ.
Celebrations to mark the inauguration of this store, set to open on Oct 10, will extend over the following weekend. During the celebration period, Lane Bryant will hold two exclusive Cacique Lifestyle Grand Opening Events including a Cacique Lifestyle Preview Party on Oct 9 and a Lane Bryant & American Cancer Society Makeover Event, in support of the Breast Cancer Awareness Month, on Oct 11.
During the Oct 11 event, Ascena will provide head-to-toe makeovers to three Breast Cancer survivors selected by the American Cancer Society. The makeovers will include hairstyles provided by Danielle Wright and makeup provided by Ja Nina Lee along with new Lane Bryant outfits styled by Celebrity Stylist Susan Moses. These three women will then debut at an in-store event with their new look. Apart from this, the company will distribute a $100 shopping spree to a lucky person who attended the event.
The new Cacique Lifestyle store will feature an exclusive collection to cater to the vivacious lifestyle needs of today’s women. The assortments will include fashion forward active wear and loungewear, alluringly confident intimate apparel, featured designer collaborations and the newly debuted runway-inspired 6th & Lane ready to wear collection.
Lane Bryant is a renowned curvy women's specialty apparel retailer, offering designer and high-quality fashion. The brand’s assortments comprise an extensive range of formal and casual apparel, together with accessories, footwear, hosiery and its intimate apparel range – Cacique. Lane Bryant, which is a wholly owned subsidiary of Ascena, operates over 775 full-line and outlet stores in 48 states across the United States, targeting plus-size women aged 30 to 45 and serves women's sizes 14–28.
The store expansion plans of Ascena are gaining pace this year with the opening of new Lane Bryant, maurices and dressbarn stores. The company has opened about 30 new Lane Bryant stores since the beginning of fiscal 2014 along with re-opening one remodeled store.
Further, Ascena opened 15 maurices stores so far in fiscal 2014, including seven new and eight remodeled stores. Moreover, the company has opened 4 dressbarn stores so far in the fiscal, including two new and two renovated stores.
Ascena Retail Group is a specialty retailer that offers clothing for women as well as teenage girls and boys. The company provides apparel, accessories, footwear, undergarments and lifestyle products such as bedroom furnishings and electronics. Some of the popular brands sold by the company include Justice, Brothers, Lane Bryant, Cacique, Right Fit, maurices, Studio Y, dressbarn, Catherines, Maggie Barnes, Liz&Me and Serenada.
Ascena operates nearly 4,000 stores in the United States, Puerto Rico and Canada. In its last earnings release, the company outlined its plan to open about 30–40 stores during fiscal 2015.
Ascena currently carries a Zacks Rank #5 (Strong Sell) as the stock has witnessed significant downward estimate revision in the last 30 days, following dismal fourth-quarter fiscal 2014 performance and a disappointing outlook for fiscal 2015.
Other Stocks to Consider
Better-ranked stocks among apparel and shoe retailers include Citi Trends Inc. (CTRN), Christopher & Banks Corporation (CBK) and DSW Inc. (DSW), all sporting a Zacks Rank #1 (Strong Buy).
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