Ascena Unveils 2 Lane Bryant Outlets in Texas, Iowa
The store expansion plan of Ascena Retail Group Inc. (ASNA) continues in full swing as its Lane Bryant brand opens in two new locations. The company’s latest stores are located at Tanger Outlets in Terrell, TX and East Viking Plaza in Cedar Falls, IA.
Celebrations to mark the inauguration of these stores will be held over the weekend from Oct 17 to Oct 19. During the celebration period, Lane Bryant will give away 50 gift cards worth $25 to customers on each day at both stores. Additionally, at its East Viking store the customers stand a chance to win $25 Real Women Dollars on purchases of $50 and over throughout the weekend.
Apart from this, its Tanger Outlets store has organized a special event on Saturday in support of Breast Cancer Awareness Month. During the event, Ascena will honor three cancer survivors selected by the American Cancer Society and give head-to-toe makeovers to them. These three women will then debut at an in-store event with their new look . One of the attendees from the Saturday’s event will also have the opportunity to win a $100 Lane Bryant gift card.
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 34 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 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 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 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), Express Inc. (EXPR) and DSW Inc. (DSW), all of which carry a Zacks Rank #1 (Strong Buy).
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