Ascena Opens Another Lane Bryant Store in California
The store expansion plan of Ascena Retail Group Inc. (ASNA) continues in full swing with the opening of a new Lane Bryant brand store at Del Monte Shopping Center in Monterey, CA on Saturday, Nov 1.
The company’s Del Monte Center store organized a special event on Saturday in support of the Breast Cancer Awareness Month. During the event, Ascena honored three cancer survivors selected by the American Cancer Society and gave head-to-toe makeovers to them.
These three women debuted at an in-store event with their new look. One of the attendees from the Saturday’s event also got the opportunity to win a $100 Lane Bryant gift card.
Further, Ascena revealed that the celebrations to mark the inauguration of the store will be held from Nov 7 to Nov 11. During the celebration period, Lane Bryant will give away 50 gift cards worth $25 on each day.
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 35 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 9 dressbarn stores so far in the fiscal, including six new and three renovated stores.
Ascena Retail Group which operates nearly 4,000 stores in the United States, Puerto Rico and Canada, 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 60 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 Christopher & Banks Corp. (CBK), Aeropostale, Inc. (ARO) and Citi Trends Inc. (CTRN). While Christopher & Banks and Aeropostale sport a Zacks Rank #1 (Strong Buy), Citi Trends carries a Zacks Rank #2 (Buy).
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