The store expansion plan of Ascena Retail Group Inc. (ASNA) continues in full swing as its Lane Bryant brand opens in five new locations. The company’s latest stores are located at The Village at Cumberland Park in Tyler, TX; Fountains at Roseville in Roseville, CA; Juban Crossing in Denham Springs, LA; Mashpee Commons in Mashpee, MA; and Carolina Premium Outlets in Smithfield, NC.
Celebrations to mark the inauguration of these stores will be held over the weekend from Nov 7 to Nov 11. During the celebration period, Lane Bryant will give away 50 gift cards worth $25 to customers on each day at all of these stores. Additionally, throughout the weekend, at each store customers stand a chance to win $25 Real Women Dollars on purchases of $50 and more.
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.
Ascena’s store expansion has been gaining pace this year with the opening of new Lane Bryant, maurices and dressbarn stores. The company has opened about 40 new Lane Bryant stores since the beginning of fiscal 2014 along with re-opening one remodeled store.
Further, Ascena has unveiled 30 maurices stores so far in fiscal 2014, including 19 new and 11 remodeled stores. The company has also opened 5 dressbarn stores so far in the fiscal, including three 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 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 Aeropostale Inc. (ARO), L Brands Inc. (LB), and Citi Trends Inc. (CTRN). While Aeropostale sports a Zacks Rank #1 (Strong Buy), L Brands and Citi Trends carry a Zacks Rank #2 (Buy).
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