Ascena Expands maurices Chain by Adding Twelve New Outlets
maurices, a subsidiary of Ascena Retail Group Inc. (ASNA), is gearing up for the holiday season by aggressively expanding store base with the opening of new stores as well as remodeled stores. maurices yesterday announced its plans to unveil 15 stores, including 12 new and 3 remodeled stores, slated to open between Oct 17 and Nov 10.
The twelve new stores will come up at Germantown, WI; Turlock, CA; Tyler, TX; Goodyear, AZ; Fargo, ND; Murfreesboro, TN; Lake Charles, LA; Lindsay, ON; Mansfield, OH; Wilkes-Barre, PA; St. Albans, VT; and Rocklin, CA. The three re-openings include stores at Robinson, IL; Terrell, TX; and Alton, IL.
The celebrations to mark the inauguration and reopening of these stores will last for a week. During the celebration week, maurices will offer $25 off for every $75 purchase made in the store.
Apart from this, on Oct 11, maurices announced the opening of a store in Lake Havasu City, AZ.
maurices has been continuously expanding its store network for nearly five years now. Starting from a single retail store, it has expanded its store base to over 900 stores in the United States and Canada. In the last five years, the brand has opened more than 250 stores and boosted sales by nearly 65%. The brands store expansion plan indicates that it is gradually progressing toward its goal of operating over 1,300 stores in the long run.
Expanding its store base not only helps maurices satisfy demand for its products but also signifies the brand's commitment toward providing an amazing shopping experience to its customers both in-stores and online.
maurices is a brand for real girls offering real style that fits their real lives. It is a women’s clothing store that provides fashionable merchandise for every occasion and budget, in sizes 1-24. Apart from offering merchandise for work, for home and even for night outs, its assortments include renowned denim collections as well as on trend shoes and accessories for every occasion.
Ascena Retail Group is a specialty retailer that offers clothing for women as well as teen 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 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 Citi Trends Inc. (CTRN), Christopher & Banks Corp. (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
