Ascena (ASNA) Introduces Lane Bryant Store In California

Ascena Retail Group Inc. (NASDAQ:ASNA) announced plans to open yet another Lane Bryant outlet, thereby keeping its store expansion in full sway. The new California store will be housed at Promenade at Downey in Downey, and is slated to open doors to customers on Jul 15, with celebrations pouring over the entire weekend.

The company announced a host of lucrative offers to attract shoppers. Customers attending the grand opening will not only get the opportunity to check the brand’s latest collection, but also gain access to exciting giveaways and deals.

Buyers who spend $75 or more on the opening day and the following days will receive a free #ImNoAngel keychain, until stocks last. Moreover, shoppers visiting the new store on the weekend following the opening day will get a chance to win one of the 25 Lane Bryant Gift Cards worth $25, on each of the days.

Lane Bryant is a wholly owned subsidiary of Ascena that operates about 764 stores in the U.S. as well as online. The brand targets plus-size women aged between 30−45, and caters to women's special sizes of 14–28.

Ascena has been on a roll in terms of store expansion. In fact, the company recently opened a Lane Bryant store in Tennessee at Harvest Park Centre in Knoxville, prior to which it opened two Lane Bryant stores in June – located at Tanger Outlets Columbus in Sunbury, OH; and Marple Crossroads in Springfield, PA.

Apart from Lane Bryant, the company has been in full swing with regard to its expansion plan, relocation and remodeling of its dressbarn stores. With its attractive, unique and reasonably priced product assortments, ranging from sizes 4–24, dressbarn is keen on enhancing its customers’ shopping experience. Last week, the company introduced a new dressbarn store at Tanger Outlets Columbus, Sunbury, OH. Ascena operates over 830 dressbarn stores in the U.S.

With consistent implementation of its store-expansion strategy, Ascena aims to extend its presence and reach out across communities. As of the end of third-quarter fiscal 2016 and following the acquisition of ANN Inc., the company operates over 4,900 stores across the U.S., Canada and Puerto Rico.

Ascena closed trade at $7.49 on Jul 11, marking an upside of 7.5%.

Zacks Rank

Ascena currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same space include Christopher & Banks Corp. (NYSE:CBK) and The Children's Place Inc. (NASDAQ:PLCE) , which sport a Zacks Rank #1 (Strong Buy) each, and American Eagle Outfitters Inc. (NYSE:AEO) , with a Zacks Rank #2 (Buy).

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