Ascena Retail Group Inc.’s (ASNA) division, dressbarn, seems to be on an expansion spree as this specialty chain announced one reopening and three store openings on Oct 17.
The company introduced a new store each at Highland Commons in Hudson; Southgate Plaza in Seabrook and Elko Junction Shopping Center in Elko. Simultaneously, it announced the reopening of its renovated store at Westminster City Center in Westminster. These stores will cater to the rising fashion needs of customers of the respective regions.
dressbarn boasts an extensive collection of budget-friendly outfits for women, with apparel ranging from sizes 4–24. Along with its associates who have profound product knowledge, the company aims at providing an informative and enjoyable shopping experience to its customers.
Apart from dressbarn, Ascena’s other subsidiaries including Lane Bryant and maurices are also expanding in full swing. The company recently unveiled the opening of 2 Lane Bryant and 15 maurices stores.
Hence, we see that the store expansion plans of Ascena are gaining pace this year with the holiday season around the corner. The company has opened nine dressbarn stores so far in the fiscal, including six new and three renovated stores.
Also, it has opened about 34 new Lane Bryant stores since the beginning of fiscal 2014 along with the reopening of one remodeled store. Further, Ascena has unveiled 30 maurices stores so far in fiscal 2014, including 19 new and 11 remodeled stores.
Ascena 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. With its ongoing efforts, we believe the company is on track to achieve its goal.
Ascena currently carries a Zacks Rank #5 (Strong Sell) as the stock witnessed significant downward estimate revisions in the last 30 days, following its 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), Express Inc. (EXPR) and DSW Inc. (DSW), all of which carry a Zacks Rank #1 (Strong Buy).
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