Ascena (ASNA) Opens New Lane Bryant Store In Tennessee

Ascena Retail Group Inc. (NASDAQ:ASNA) inaugurated a new Lane Bryant outlet in Tennessee, in line with its expansion strategy. Located at Harvest Park Centre in Knoxville, the store opened doors to its customers with a grand event between Jul 1 and Jul 3.

The company announced a host of lucrative offers to attract shoppers. Customers attending the Grand Opening not only had the opportunity to check the brand’s latest collection, but also gained access to exciting giveaways and deals.

Buyers who spent $75 or more on the opening day and on the following days received a free #ImNoAngel keychain, until stocks lasted. Moreover, shoppers visiting the new store on the weekend following the opening day got a chance to win one of the 25 Lane Bryant Gift Cards worth $25, 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 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., Ascena is operating over 4,900 stores across the U.S., Canada and Puerto Rico.

Ascena closed trade at $7.10 on Jul 1, marking an upside of 1.6%.

Zacks Rank

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