Ascena Adds 3 More Stores to Lane Bryant Chain
The store expansion plan of Ascena Retail Group Inc.’s (ASNA) Lane Bryant brand continues in full swing with the opening of three new locations. The company’s latest stores are located at Shops on Main in Schererville, IN; Macomb Mall in Roseville, MI and South County Center in St. Louis, MO.
Celebrations to mark the inauguration of these stores were held over the weekend from Oct 3 to Oct 5. During the celebration period, Lane Bryant gave away 50 gift cards worth $25 to customers on each day.
Apart from this, in support of Breast Cancer Awareness Month, the company organized a special event at the three new Lane Bryant outlets on Oct 4. During the event, Ascena honored three survivors selected by the American Cancer Society. The company also distributed a special $100 Lane Bryant gift card to a lucky person who attended Saturday’s event.
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), 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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