Ascena (ASNA) Relocates dressbarn Store to Fuel Growth
Ascena Retail Group Inc. ASNA seems to be gearing up for the fall season, as the company announced the relocation of one of its dressbarn stores. The relocated store is housed at 1200 Hamburg Turnpike, in Wayne’s Preakness Shopping Center.
As part of the store opening, the company announced free gifts for customers with every purchase. Also, shoppers at the store will have access to designer clothing and smart style solutions, along with personalized wardrobe advice from expert associates on the floor.
A wholly-owned subsidiary of Ascena, dressbarn seeks to enhance customers’ shopping experience with its attractive, unique and reasonably priced product assortments ranging from sizes 4–24. Ascena currently operates over 830 dressbarn stores in the U.S.
Ascena has been on a roll in terms of store expansion. In fact, earlier this month, the company announced plans to open a dressbarn outlet in California. The company has been implementing the store expansion strategy for its other brands as well.
Evidently, over the last weekend, Ascena opened a new Lane Bryant outlet in Florida. Lane Bryant operates about 764 full-line and outlet stores in the country. It targets plus-size women aged 30−45, catering to sizes 14–28. The brand also has an online presence.
With the consistent implementation of its store expansion strategy, Ascena aims to expand its presence and recognition across communities. As of the end of third-quarter fiscal 2016 and following the acquisition of ANN Inc., Ascena operates over 4,900 stores across the U.S., Canada and Puerto Rico.
This Zacks Rank #3 (Hold) stock closed trade at $8.95 on the last trading day, marking an upside of 2.1%.
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Some better-ranked stocks in the same industry include The Children's Place, Inc. PLCE, sporting a Zacks Rank #1 (Strong Buy), American Eagle Outfitters Inc. AEO and Citi Trends, Inc. CTRN, both carrying a Zacks Rank #2 (Buy).
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