Ascena Retail Group Inc. ASNA announced plans to introduce a Lane Bryant outlet in Pennsylvania, much in line with its expansion strategy. Located at Marple Crossroads in Springfield, the store is slated to open doors to customers with a grand event between Jun 10 and Jun 12.
The company has announced a host of lucrative offers to attract shoppers to the store. Customers attending the Grand Opening will not only get an 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 get 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 25 Lane Bryant Gift Cards worth $25, each day.
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 30−45, and caters to women's special sizes 14–28.
Ascena has been on a roll in terms of store expansion. In fact, the company opened a Lane Bryant store last week, housed at Plaza 183 in Cerritos, CA.
Apart from Lane Bryant, the company has also been in full swing with regard to the expansion, 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. Ascena currently operates over 830 dressbarn stores in the U.S.
With consistent implementation of its store-expansion strategy, Ascena aims to extend its presence and recognition across communities. As of the end of third-quarter fiscal 2016 and following the acquisition of ANN Inc., Ascena operated over 4,900 stores across the U.S., Canada and Puerto Rico.
Ascena currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same space include The Children's Place, Inc. PLCE and Destination XL Group, Inc. DXLG, each with a Zacks Rank #2 (Buy). Another stock worth considering in the related textile-apparel industry is Delta Apparel Inc. DLA, with a Zacks Rank #1 (Strong Buy).
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