Ascena Retail Group Inc. ASNA is leaving no stone unturned with respect to its expansion strategy. This is evident from the company’s recent announcement of the opening of a dressbarn store in Miami.
Shoppers at the aforementioned store, housed at Fontainbleau Square, will be entitled to receive a free present and a tote bag on making a purchase. However, this offer will be valid only till stocks last. With its attractive, unique and reasonably priced product assortments, ranging from sizes 4–24, dressbarn intends to enhance customers’ shopping experience.
Ascena’s focus on extending dressbarn’s presence is evident from the fact that over the past three months, the company has introduced dressbarn stores in Tennessee, Georgia, Louisiana, Texas, Kentucky, Missouri, Minnesota, California and Colorado.
Apart from dressbarn, Ascena has been implementing its store expansion strategy for its other brands as well. Most recently, the company announced the opening of three Lane Bryant stores, one each in North Carolina, Georgia and California.
With these store openings, Ascena aims to further its presence and recognition across communities.
dressbarn, which is a unit of Ascena, currently operates over 850 stores in the United States. Lane Bryant on the other hand, is Ascena’s wholly owned subsidiary that operates about 775 full-line and outlet stores in the United States, targeting plus-size women aged 30 to 45, and caters to women's sizes 14–28. The brand also operates online.
Ascena currently carries a Zacks Rank #4 (Sell). The company’s second-quarter fiscal 2015 adjusted earnings from continuing operations of 7 cents per share fell a penny short of the Zacks Consensus Estimate and slumped 70% year over year.
Better-ranked stocks in the same industry include American Eagle Outfitters Inc. AEO, with a Zacks Rank #1 (Strong Buy), Bebe Stores, Inc. BEBE and Citi Trends Inc. CTRN, each carrying a Zacks Rank #2 (Buy).
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