Ascena Opens Two Lane Bryant Stores - Analyst Blog
April 14 2014 - 3:00PM
Zacks
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).
AMER APPAREL (APP): Free Stock Analysis Report
ASCENA RETAIL (ASNA): Free Stock Analysis Report
FOOT LOCKER INC (FL): Free Stock Analysis Report
HANESBRANDS INC (HBI): Free Stock Analysis Report
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