|Bid||0.4800 x 3100|
|Ask||0.5000 x 1300|
|Day's Range||0.4506 - 0.5000|
|52 Week Range||0.2000 - 3.3200|
|Beta (5Y Monthly)||1.15|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 12, 2020 - Mar 16, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.00|
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Our research shows that most of the stocks that smart money likes historically generate strong […]
(Bloomberg Opinion) -- Many of the retail industry’s challenges in 2020 will be familiar, such as adapting to the rise of e-commerce and trade-related uncertainty from Washington. But the lineup of CEOs navigating those conditions will include many new faces.There were more CEO exits in the retail industry in 2019 than in any year since at least 2010, according to data from Challenger, Gray & Christmas.(1)The leadership shake-ups in retail don’t appear to fit any particular pattern. There were carefully choreographed, harmonious baton passes, such as Best Buy Co. naming Corie Barry to succeed Hubert Joly. There were bombshells such as Steve Easterbrook’s abrupt ouster from McDonald’s Corp. over an inappropriate relationship with an employee. There were rebukes of poor performance, such as Art Peck’s departure from Gap Inc. And there were some left-field surprises, such as Tractor Supply Co. poaching Hal Lawton from Macy’s Inc.Retail’s recent bout of turbulence at the top is not such an outlier in corporate America; Bloomberg Opinion’s Stephen Mihm recently noted an uptick in CEO departures overall in the past few months. But it adds a certain intrigue about which retailers will end up in the winners’ circle next year.Here are predictions for how some of the more high-profile episodes of C-suite musical chairs will play out.CEO changes that are reason for optimism: By the time activist investor pressure finally led Bed Bath & Beyond Inc. to dump longtime CEO Steven Temares, the move was long overdue. But the board has scored by luring Mark Tritton — the chief merchant at its on-fire competitor, Target Corp. — for the job. Tritton’s experience creating covetable private-label brands and reimagining store displays are exactly what the big-box home goods chain needs. Meanwhile, though Gap has not yet named a permanent successor for the now-departed Peck, the company may be better off without a leader who tried but failed for five years to revive its flagship brand.CEO changes that are reason for pessimism: The biggest headscratcher comes from Nike Inc., which announced that CEO Mark Parker is to be replaced in January by John Donahoe, a former ServiceNow and eBay Inc. executive. Sure, Donahoe knows Nike’s business from serving on its board, but his tech-centric resume is a weird fit for a company that thrives on its marketing savvy and merchandising expertise. There is potential for trouble, too, in the leadership plans of Under Armour Inc., where founder Kevin Plank is set to relinquish the CEO title to COO Patrik Frisk in the new year. Plank is to become chairman and “brand chief,” and Frisk will still report to Plank. This set-up is reminiscent of when Ralph Lauren first tried to step back from the CEO role of his namesake company while staying on in a creative position. The fashion mogul clearly had trouble releasing the reins, and it cost the company a highly capable CEO, Stefan Larsson.(2)Elsewhere in the apparel world, Ascena Retail Group Inc., corporate parent of Ann Taylor, Lane Bryant and other brands, probably will regret tapping an insider, Gary Muto, to replace David Jaffe. This company needs the kind of total overhaul that an outsider would be better equipped to pull off.CEO changes that promise business as usual: Electronics giant Best Buy is in good hands under Barry, a veteran executive of the chain who had served as its CFO and chief strategic growth officer. Thing is, the electronics giant was already in good hands under Joly, who had steered the chain through an improbable comeback. So expect steadiness for the retailer in the year ahead —by no means a bad thing. Same goes for McDonald’s: Even though it said goodbye to a successful CEO under far more soap-operatic circumstances, his replacement, Chris Kempczinski, is a close lieutenant poised to stick to the same playbook that has fueled the fast-food giant’s recent strength.CEO change wild card: It’s understandable that Tapestry Inc.’s board had lost confidence in recently departed CEO Victor Luis. The company that used to be named Coach has been struggling to boost the Kate Spade brand it acquired in 2017, a bad sign for a company intent on transforming into a luxury conglomerate. Luis has been replaced by Jide Zeitlin, a longtime Tapestry board member. He has little experience in the retail or fashion worlds, which is concerning. But his finance industry chops could prove invaluable in future deal-making — an essential ingredient in the company’s quest for growth.(1) The Challenger data in the chart is for the retail sector only. The apparel industry, which includes manufacturers such as Nike, is a separate category that also saw a particularly high number of exits in 2019. So far, apparel has 12 CEO exits, matching the 2015 annual total that was the highest this decade. Restaurants such as McDonald’s are included in the entertainment and leisure category in Challenger’s data.(2) Lauren seems to have settled into his new role alongside current CEO Patrice Louvet, who took that job in 2017 after Larsson’s exit.To contact the author of this story: Sarah Halzack at email@example.comTo contact the editor responsible for this story: Michael Newman at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Ascena Retail Group Inc., which has a portfolio of retail chains that includes Ann Taylor and Loft, said plus-size fashion and pants were hot items during the most recent quarter. Last year’s profit includes a 15 cents per-share benefit from discontinued operations. Ann Taylor same-store sales fell 1%, Loft same-store sales were down 2%, Lane Bryant was up 2% and Justice kid’s fashion was down 6%.
The debt-laden parent of Ann Taylor and Justice posted surprising results Tuesday, causing its shares to gyrate only to finish the day barely higher.
MAHWAH, N.J., Dec. 09, 2019 -- ascena retail group, inc. (Nasdaq - ASNA) (“ascena” or the “Company”) today reported financial results for its fiscal first quarter ended.
NEW YORK, NY / ACCESSWIRE / December 9, 2019 / Ascena Retail Group, Inc. (NASDAQ: ASNA ) will be discussing their earnings results in their Ascena Retail Group, Inc. to be held on December 9, 2019 at 4:30 ...
Linda Heasley has stepped down as president, CEO and a member of the board of J.Jill, Inc. as the company announced disappointing third quarter results. The Board has begun a search process, and James (“Jim”) S. Scully, who currently serves as a member of the J.Jill, Inc. (NYSE:JILL) board of directors, will serve as interim CEO, the company said in a statement. Heasley was named CEO of the company in April 2018 and had served as a director of J. Jill since March 2017.
MAHWAH, N.J., Dec. 02, 2019 -- ascena retail group, inc. (Nasdaq - ASNA) (the “company” or “ascena”) today announces the release of its Fiscal 2020 first quarter financial.
MAHWAH, N.J., Nov. 22, 2019 (GLOBE NEWSWIRE) -- ascena retail group, inc. (ASNA) announced today that through its retail brands, it has raised a total of $6.2 million for the Breast Cancer Research Foundation (BCRF) in support of Breast Cancer Awareness month in October of this year. Since 2005, the company and its brands have funded over $50 million in critical breast cancer research, making it BCRF’s top fashion donor. For Breast Cancer Awareness Month, several of ascena retail group’s brands activated fundraising campaigns and special collections to help raise funds for BCRF.
Justin MacFarlane Named Chief Customer Officer Marisa Baldwin Promoted to Chief Human Resources Officer MAHWAH, N.J., Nov. 13, 2019 -- ascena retail group, inc. (Nasdaq:.
It is a retail name that currently trades as though it were an option - in this case, an option that the company will stay afloat. Unlike most of my dumpster diving ideas, this is not one that I stumbled upon through my own research. An analyst/Real Money reader reached out to me several weeks ago, because he knew I am enamored at times with out of favor retail names, and asked if I knew the story behind Ascena Retail Group , parent of Ann Taylor, Loft, Lane Bryant, Catherine's, Justice and the soon to be shuttered Dress Barn.
Anyone researching Ascena Retail Group, Inc. (NASDAQ:ASNA) might want to consider the historical volatility of the...
Store-closing sales start today at more than 500 Dressbarn locations nationwide, as the company winds down its brick-and-mortar retail business, but the brand will live on online. Dress Barn Inc. earlier this week announced that it has sold the intellectual property assets of Dressbarn and will transition its e-commerce business to a subsidiary of Retail Ecommerce Ventures LLC. A new dressbarn.com platform has a tentative launch date of January 1. “We believe the future of Dressbarn is bright and we are excited to grow and expand the online presence for the brand,” said Tai Lopez, co-owner of Retail Ecommerce Ventures, in a statement.
Ascena Retail Group Inc. said late Wednesday its Dressbarn stores are in the "final stages" of their planned winding down, with store-closing sales at all of its 544 remaining brick-and-mortar shops starting on Friday. The intellectual-property assets of Dressbarn have been sold, and the company has started the transition to an e-commerce business as a subsidiary of Retail Ecommerce Ventures LLC, Ascena said. Store customers will see discounts on all merchandise of up to 40% off original prices, Ascena said. Store fixtures, furnishings and equipment will also be for sale. Existing gift cards and merchandise credits will be honored throughout the sale. All stores are expected to close no later than Dec. 26. Ascena, the parent of Ann Taylor Group and other apparel brands, earlier this month swung to a quarterly loss. Ascena announced the Dressbarn closing in May.
The Dress Barn, Inc. (the “Company” or “Dressbarn”) today announced that it will begin the final stage of its planned wind down by commencing store closing sales at all of its brick and mortar retail stores. The Company also announced that it has sold the intellectual property assets of Dressbarn and has begun the process of transitioning its ecommerce business to a subsidiary of Retail Ecommerce Ventures LLC.
The downgrades reflect Moody's view that Ascena's capital structure is likely unsustainable as a result of its weak operating performance, high leverage, and negative free cash flow, creating an elevated risk of a debt restructuring including a material debt repurchase at a significant discount. Ascena's Caa2 CFR reflects the company's elevated probability of debt restructuring as a result of its high leverage, low interest coverage, and negative free cash flow.
MAHWAH, N.J., Oct. 8, 2019 /PRNewswire/ -- ascena Foundation is proud to announce the 2019 winners of the Roslyn S. Jaffe Awards. The program, now proudly in its sixth year, aims to bolster and provide financial support to grassroots organizations who are making a meaningful difference in the lives of women and children, specifically in the areas of health, education, social reform and self-esteem.
Ascena Retail Group Inc.'s Interim Executive Chair Carrie Teffner used the fiscal fourth-quarter earnings call to reaffirm that the company won't be filing Chapter 11 like so many other retailers recently. "The company continues to consider options to optimize its balance sheet and liquidity from a position of strength," she said on the call, according to a FactSet transcript. "[T]o be clear and for the avoidance of doubt, bankruptcy of Ascena is not one of the options being evaluated." Ascena is in the process of winding down its Dressbarn business, which should see all of its stores closed in December. And Ascena has divested the Maurices business, a $300 million deal with OpCapita LLP announced in March. Remaining Ascena brands include Ann Taylor and Lane Bryant. "We have a portfolio of strong brands, three of which individually generate revenue of approximately $1 billion or more," Teffner said. Ascena reported reported a quarterly loss, revenue that was slightly down from last year and flat same-store sales. Ascena stock has lost more than 92% of its value over the last year. The stock was trading at 32 cents Friday afternoon. The S&P 500 index is up 1.5% in the last 12 months.
(Bloomberg Opinion) -- Ascena Retail Group Inc.’s gloomy quarterly results are a reminder not just of why the giant chain feels such enormous pressure to change. They also show the challenges retailers face when they try to create a whole greater than the sum of its parts. The retailer, the corporate parent of chains such as Lane Bryant and Ann Taylor, said Thursday its gross margin slipped to 54.3% from 58.1% a year earlier as it increased discounts and promotions to clear inventory. Comparable sales sank 2% from a year earlier for its chains excluding Dressbarn, which is in the process of shuttering all of its 616 stores.The weakness emphasizes why the company has already been undergoing a dramatic overhaul: In addition to winding down Dressbarn by the end of the year, it has sold Maurices, a 943-store chain. And it could rip up its empire even further, as Bloomberg News has reported that it is considering a divestiture of plus-size chains Catherines and Lane Bryant.Slicing up a specialty retailer is certainly in vogue right now: Gap Inc. is soon to split in two, and J. Crew is to spin off its Madewell chain. But Ascena is different because it’s an apparel conglomerate that was bolted together only four years ago.When Ascena acquired Ann Inc., the company that included Ann Taylor and Loft, executives promised many benefits. Ascena had been growing via acquisition for about a decade by then, and the idea was that it knew how take advantage of efficiencies (centralizing back-office functions, for example, or stuffing several brands into one e-commerce distribution center).But whatever Ascena has done on that front, it is hard to argue that it is now a healthier retailer. The company has had five consecutive years of losses as it has struggled to offer the right clothing selection, relied heavily on discounting and maintained stores in less-than-ideal locations.Ascena, after having paid about $2 billion for Ann, now has a market capitalization of about $61 million. There are Manhattan penthouses worth as much this chain of more than 3,400 stores. It had been clear for some time that the Ann acquisition was not shaping up to be a boon for Ascena. My colleague Tara Lachapelle noted as far back as 2017 – when the deal forced the company to take a significant charge – that the Ann deal was adding to the company’s problems.Now, if Ascena ends up unloading Catherines and Lane Bryant, what will remain is just the old Ann Inc. plus children’s retailer Justice. The deal will have proved to be a nearly pointless exercise. More important, its failure would call into question the company’s strategy over a much longer period.Stacey Widlitz, president of SW Retail Advisors, points out that Ascena’s diversification plan ultimately left it fighting three distinct battles on what are arguably the toughest fronts in retail: The value apparel category, where Target Corp. and Old Navy dominate; the teen category, where online shopping has been especially disruptive; and mid-priced apparel, where almost no retailers are prospering right now.Maybe it’s for the best, then, that longtime CEO David Jaffe and CFO Robb Giammatteo have each departed those roles in recent months.Can new leadership revitalize the company? It’s doubtful. Ann Taylor and Loft have performed relatively well lately, and they are positioned to pick up market share that department stores are shedding. But those chains are putting too much effort toward growing their outlet businesses online, which will cheapen the brands over the long term and potentially hurt margins.Whatever happens with those chains now, one thing is abundantly clear: Ascena’s experiment has not worked out as planned. To contact the author of this story: Sarah Halzack at email@example.comTo contact the editor responsible for this story: Michael Newman at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Ascena Retail Group Inc. stock fell more than 12% in the extended session Thursday after the parent of Ann Taylor and other apparel brands swung to a loss in the fiscal fourth quarter and sales were flat. Ascena said it lost $358 million, or $2.12 a share, in the quarter, versus a profit of $33 million, or 8 cents a share, in the year-ago quarter. Revenue stayed at $1.5 billion. Same-store sales were also flat, Ascena said. Dress Barn's store closings and wind-down is "progressing well and on track" for December, Ascena said. One analyst covering the stock expected a GAAP loss of $1.20 a share on sales of $1.2 billion, according to FactSet. Shares of Ascena ended the regular trading day up 13%. The shares recouped some losses as the after-hours session progressed, and were recently down 6%.
Reports Loss per Share From Continuing Operations of $2.12; Adjusted Loss per Share From Continuing Operations of $0.13 MAHWAH, N.J., Oct. 03, 2019 -- ascena retail group,.