Recently, Lane Bryant, a unit of Ascena Retail Group Inc. (ASNA), took its initiative to offer ‘fashion for everyday and style just for you' a step ahead by declaring the opening of three new stores, one each in the states of South Carolina, South Dakota and Pennsylvania. Simultaneously, the company announced the reopening of a repositioned store in Pennsylvania. The stores opened with a weekend celebration on Oct 25.
Located at Commons at Magnolia in Florence, S.C., the new Lane Bryant store will share floor space with eminent retailers such as Target Corp. (TGT), Bed Bath & Beyond Inc. (BBBY) and David's Bridal. In South Dakota, the company opened a new Lane Bryant store at the Rushmore Crossing shopping center in Rapid City. The mall boasts the presence of leading retailers like ULTA Beauty, a retail outlet of Ulta Salon, Cosmetics & Fragarance Inc. (ULTA); Justice and Dressbarn, both of which are units of Ascena Retail Group. In Pennsylvania, the company’s new store joined a brigade of retailers including DSW Designer Shoe Warehouse, a unit of DSW Inc. (DSW); Dressbarn and Catherines, both of which are units of Ascena Retail Group; and Marshall's, a subsidiary of The TJX Companies Inc. (TJX); at the Miracle Mile Shopping Center in Monroeville.
Further, the company moved its Lane Bryant store outside of The Promenade at Millcreek Mall in Erie, Pa.
During the opening weekend celebration, the company distributed 150 $25 Lane Bryant gift cards to its customers at each of these stores.
Lane Bryant is a renowned women's curvy specialty apparel retailer, offering designer and high-quality fashion in sizes 14-28. The brand’s assortments consist of an extensive range of formal and casual apparel, together with accessories, footwear, hosiery and Cacique – the brand’s intimate apparel range. Lane Bryant operates over 800 full-line and outlet stores in 48 states across the United States, targeting plus-size women aged between 30–45, and serves to women's sizes 14–28.
Ascena Retail Group is a specialty retailer dealing in clothing for women, and teen girls and boys. This Zacks Rank #3 (Hold) company offers apparel, accessories, footwear, intimates, and lifestyle products, including 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 Sep 24, 2013, the company operated nearly 3,900 stores in 48 states, the District of Columbia, Puerto Rico and Canada.
In its last earnings release, Ascena outlined its plan to open about 180–190 new stores during fiscal 2014 while shuttering 115–125 stores.
Read the Full Research Report on TJX
Read the Full Research Report on DSW
Read the Full Research Report on ULTA
Read the Full Research Report on BBBY
Read the Full Research Report on ASNA
Zacks Investment Research
- Consumer Discretionary
- Lane Bryant