Ascena Opens Two Lane Bryant Stores
Going ahead with its store expansion plan, Lane Bryant, a brand of Ascena Retail Group Inc. (ASNA) last week announced the opening of two stores, one at Alliance Town Center in Fort Worth, TX and the other at Burnsville Center in Burnsville, MN.
The celebrations to mark the inauguration of these stores were held over the weekend from Apr 11 to Apr 13. During the weekend, Lane Bryant gave away 25 gift cards worth $25 to customers on each day as well as $25 Real Women Dollars for every $50 purchase made in store throughout the weekend.
It seems that the store expansion plan of Ascena is gaining pace again this year. Earlier this month, the company opened a new Lane Bryant store located at the Elmore Marketplace in Davenport, IA. Additionally, it had unveiled 3 Lane Bryant stores at March-end. These stores, inaugurated on Mar 28, are located at Chimney Rock in Odessa, TX; The Shoppes at Gary Farms in Bowling Green, KY; and Willow Ridge Plaza in Marlton, NJ. Including the above-mentioned stores, the company opened about 8 Lane Bryant stores throughout March this year.
Lane Bryant is a renowned women's curvy 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 Cacique – the brand’s intimate apparel range. 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 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. The company’s operating segments include Justice, Lane Bryant, Maurices, Dressbarn and Catherines. 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.
As of Mar 3, 2014, Ascena operated nearly 3,900 stores in United States, Puerto Rico and Canada. In its last earnings release, the company outlined its plan to open about 50–70 stores during fiscal 2014.
Other Stocks to Consider
Ascena currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks among apparel retailers include Foot Locker, Inc. (FL), Hanesbrands Inc. (HBI) and American Apparel Inc. (APP). All of these have a Zacks Rank #2 (Buy).
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Read the Full Research Report on APP
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