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Ascena Expands Further with Two New Lane Bryant Stores

Ascena Retail Group Inc. ASNA took yet another step toward expansion, as it announced plans to introduce two Lane Bryant outlets in the states of West Virginia and Florida.

The Florida store is located at Westfield Citrus Park in Citrus Park. It will open doors on May 19. On the other hand, the outlet in West Virginia that will be housed at University Town Centre in Morgantown is slated to open doors to customers with a grand event between May 20 and May 22.

The company has announced a host of lucrative offers to attract shoppers to the stores. Customers attending the Grand Opening will not only get an opportunity to check the brand’s latest collection, but will 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 stores 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 to 45, and caters to women's special sizes of 14–28.

Ascena has been on a roll in terms of store expansion. 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 second-quarter fiscal 2016 and following the acquisition of ANN Inc., Ascena operated over 4,900 stores across the U.S., Canada and Puerto Rico.

Zacks Rank

Ascena currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the same industry worth considering include Abercrombie & Fitch Co. ANF, New York & Company Inc. NWY and Shoe Carnival Inc. SCVL, each with a Zacks Rank #2 (Buy). 

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ABERCROMBIE (ANF): Free Stock Analysis Report
NEW YORK & CO (NWY): Free Stock Analysis Report
ASCENA RETAIL (ASNA): Free Stock Analysis Report
SHOE CARNIVAL (SCVL): Free Stock Analysis Report
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