Ascena Continues Expanding Store Base across all Brands
Ascena Retail Group Inc. (ASNA) seems quite keen on strengthening its business even further and is steadfastly expanding all of its brand outlets. Apart from opening two standalone Lane Bryant stores, the company has inaugurated one Lane Bryant’s Cacique Lifestyle store and a dressbarn store.
Celebrations to mark the opening of the two new Lane Bryant stores were held over the weekend from Oct 10 to Oct 12. During the celebration period, Lane Bryant gave away 50 gift cards worth $25 to customers on each day. Apart from this, in support of the Breast Cancer Awareness Month, the company organized a special event at the two new outlets on Oct 11.
Further, Ascena celebrated the inauguration of Lane Bryant’s Cacique Lifestyle store located at Newport Centre in Jersey City, NJ from Oct 9 to Oct 12. During the celebration period, Lane Bryant held two exclusive Cacique Lifestyle Grand Opening Events including a Cacique Lifestyle Preview Party on Oct 9 and a Lane Bryant & American Cancer Society Makeover Event.
During the Oct 11 events for its Lane Bryant and Cacique stores, Ascena honored three survivors selected by the American Cancer Society. One of the attendees from the Saturday’s event also had the opportunity to win a $100 Lane Bryant gift card at each of these stores.
Furthermore, Ascena opened a new dressbarn store on Friday, Oct 10 at Lakeland Park Center, Lakeland, FL. The new dressbarn store will offer versatile, on-trend pieces in sizes 4-24 for women looking for stylish apparels at an affordable price. The dressbarn store celebrated its opening by allowing shoppers to register to win a $250 shopping spree.
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 32 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. 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 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), Christopher & Banks Corporation (CBK) and DSW Inc. (DSW), all sporting a Zacks Rank #1 (Strong Buy).
Read the Full Research Report on ASNA
Read the Full Research Report on DSW
Read the Full Research Report on CTRN
Read the Full Research Report on CBK
Zacks Investment Research
