Ascena Retail Group Inc (NASDAQ:ASNA) appears to be accelerating its expansion. The organization declared the start of a new Lane Bryant store at Southgate Mall in Missoula, MT. The new store will welcome customers with a Grand Opening event on March 11. Also celebrations will go on through the weekend.
The company has a number of lucrative offers to draw shoppers to the new store. People who attend the Grand Opening will get the chance to see the company’s latest collection. Also they will have the opportunity to win attractive giveaways and get exciting deals. Purchasers who spend $75 or above on the opening day and the following days well be entitled to a free #ImNoAngel keychain.
Shoppers frequenting the new store on the weekend after the opening day well have a opportunity to bag one of 25 Lane Bryant Gift Cards costing $25 each day. Lane Bryant is a completely owned subsidiary of Ascena. The latter runs around 764 stores in America and also online. The brand is aimed at plus-size women between the ages of 30 and 45. Also it caters to female sizes 14-28.
Ascena is in fast mode when it comes to store expansion. Along with the above mentioned outlet, the company started another Lane Bryant store last week located at Stonebridge at Potomac Town Center in Woodbridge VA. Ascena’s objective is to spread its presence and recognition among all communities.
Ascena reported financial results for its fiscal second quarter. The company had a net loss of $0.12 per share compared to the net profit of $0.05 per share in the same period of previous fiscal year. The reduction was because of integration expenses, interest cost under the $1.8 billion term loan and also because of the impact of non-cash buying accounting adjustments.
All the losses are attributed to the acquisition of Ann Inc. President and CEO, Ascena, David Jaffe said that the company’s second quarter earnings performance was just above the amount estimated in mid January. The reason was LOFT’s better performance and Justice’s favorable margin rate. The company is happy with Justice’s turn around and has faith in its full year plan. Maurices did well where as Lane Byrant is improving constantly as well as consistently.