Ascena Retail Group news and archive

Ascena Retail Group to stop using alpaca fur across brands

Ascena Retail Group has announced that it will no longer sell products made with alpaca wool, following the Winter 2020/2021 season. The company, which owns brands Ann Taylor, Loft, Lane Bryant and others, said that it will eliminate the fabric from all product lines at all stores. This decision comes after PETA released undercover footage of...

Business

FullBeauty to acquire Catherines’ ecommerce business from Ascena

Ascena Retail Group, inc. has announced that FullBeauty Brands Operations, LLC will acquire Catherines’ intellectual property assets for a base purchase price of 40.8 million dollars and potential upward adjustment for certain inventory. The company also said that The United States Bankruptcy Court for the Eastern District of Virginia has...

BusinessFeatured

Ann Taylor owner Ascena files for bankruptcy protection

Ascena Retail Group, inc. has entered into a restructuring support agreement (RSA) with over 68 percent of its secured term lenders. The company said in a statement that the plan is expected to reduce Ascena’s debt by approximately 1 billion dollars and provide increased financial flexibility to enable the company to continue its focus on...

Retail

Ascena Retail Group to close 1200 stores

Ascena Retail Group, the parent company of Ann Taylor, is set to close 1200 stores. Bankruptcy appears to be on the horizon for the company as they took a major hit from coronavirus like the rest of the apparel and retail sector. Ascena Retail Group is expected to file for Chapter 11 bankruptcy as early as next week in an attempt to shed 700...

Business

Ascena Q2 net loss widens, comparable sales drop 2 percent

Ascena Retail Group, inc. reported net sales for the second quarter of 1,217 million dollars compared to 1,271 million dollars in the year-ago period, reflecting a comparable sales decrease of 2 percent, a decline in other revenue and a decrease in non-comparable sales. Gross margin decreased to 635 million dollars from 660 million dollars,...

Business

Ascena reports profit in Q1, comparables sales remain flat

Net sales for the first quarter at Ascena Retail Group were 1,297 million dollars compared to 1,339 million dollars in the year-ago period, which the company said reflect flat comparable sales for the quarter and a decrease in non-comparable sales which include the impact of the store closures. The company reported net income from continuing...

People

Ascena announces appointment of two senior executives

Ascena Retail Group, Inc. has announced the appointments of Justin MacFarlane as Executive Vice President, Chief Customer Officer, effective December 2, 2019 and promotion of Marisa Baldwin to Executive Vice President, Chief Human Resources Officer, effective immediately. Both MacFarlane and Baldwin, the company said in a statement, will report...

Retail

Dressbarn will relaunch e-commerce in 2020 after closing all stores this year

Ascena Retail Group's Dressbarn brand will commence its liquidation process this week. The company announced in May that it decided to wind down the brand's operations to focus on other, more profitable labels. There are currently 544 Dressbarn stores in operation across the U.S. Store-closing sales will begin on Friday, November 1, with the...

BusinessFeatured

Ascena Retail Group reports Q4 net loss of 420 million dollars

Net sales for the fourth quarter of fiscal 2019 at Ascena Retail Group, were 1,454 million dollars compared to 1,520 million dollars in the year-ago period, reflecting flat comparable sales for the quarter and the unfavourable impact resulting from the 53rd week recorded in the prior fiscal year. The company said in a statement that gross margin...

People

Two Ascena Retail directors to leave board

Ascena Retail Group, Inc. has announced the resignation of two of its board members, Steven Kirshenbaum and Marc Lasry, effective June 30, 2019. The company said that its board has approved a reduction in the size of the board from 12 to 10 directors, effective as of that date. Commenting on the development, Carrie Teffner, Interim Executive...

Business|ANALYSIS

Analysts see Dressbarn closures as a key step for a positive future for Ascena Retail

New York - Ascena Retail Group (NASDAQ:ASNA) announced in late May its plans to sunset its Dressbarn, closing all its stores. The announcement followed months of speculation regarding a potential sale of the business. Is worth recalling that Ascena Retail Group has struggled for several years, accumulating a total debt that surpasses 1 billion...

Business

Ascena posts larger Q3 loss

For its third quarter to May 4, 2019, Ascena Retail Group, Inc. reported a GAAP loss of 1.20 dollars per diluted share compared to 20 cents in the year-ago period. The company said adjusted loss for the quarter was 26 cents per diluted share compared to 8 cents per diluted share in the year-ago period. Net sales were 1,266 million dollars...