Ascena Retail Group Inc. (ASNA) seems keen on further strengthening its business as it remains focused on expanding its brand outlets. This was marked by the recent opening of one Lane Bryant and reopening of two dressbarn stores.
The company’s newest Lane Bryant store, situated at Mid Rivers Mall in Saint Peters, MO, opened its doors on Sep 19, 2014. Celebrations to mark the opening of this store will extend over the weekend running from Sep 19 to Sep 21.
During the celebration weekend, customers got a chance to win one of the 50 gift cards worth $25 on each day. Moreover, customers who made purchases of $50 or more were awarded $25 Real Women Dollars redeemable on a later date.
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 dressbarn stores which were reopened on Sep 19, after extensive renovation and remodeling, are located at Shoppes at Paradise Key in Destin, FL and Morris Hills Shopping Center in Parsippany, NJ.
These renovated stores will offer versatile, on-trend pieces in sizes 4-24 for women looking for stylish apparels at an affordable price. The dressbarn stores celebrated their opening by allowing shoppers to register to win a $250 shopping spree.
The store expansion plans of Ascena are gaining pace this year with its new Lane Bryant, maurices and dressbarn stores. In June, the company opened 15 maurices stores, including seven new store openings and eight re-openings of remodeled stores. Moreover, the company has opened about 27 new Lane Bryant stores since the end of Mar 2014, while re-opening one remodeled store. Further, Ascena has opened 4 dressbarn stores so far this year 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.
The company’s operating segments include Justice, Lane Bryant, maurices, dressbarn and Catherines. 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 40–60 stores during fiscal 2014.
Ascena currently carries a Zacks Rank #3 (Hold). Better-ranked stocks among apparel and shoe retailers include Citi Trends Inc. (CTRN), Express Inc. (EXPR) and Foot Locker Inc. (FL). While Citi Trends sports a Zacks Rank #1 (Strong Buy), Express Inc. and Foot Locker hold a Zacks Rank #2 (Buy).
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