Ascena Retail Group has announced that it will no longer sell products made with alpaca wool, following the Winter 2020/2021 season. The company, which owns brands Ann Taylor, Loft, Lane Bryant and others, said that it will eliminate the fabric from all product lines at all stores. This decision comes after PETA released undercover footage of...
Nov 25, 2020
Ascena Retail Group, inc. has announced that FullBeauty Brands Operations, LLC will acquire Catherines’ intellectual property assets for a base purchase price of 40.8 million dollars and potential upward adjustment for certain inventory. The company also said that The United States Bankruptcy Court for the Eastern District of Virginia has...
Sep 22, 2020
Ascena Retail Group, inc. has entered into a restructuring support agreement (RSA) with over 68 percent of its secured term lenders. The company said in a statement that the plan is expected to reduce Ascena’s debt by approximately 1 billion dollars and provide increased financial flexibility to enable the company to continue its focus on...
Jul 23, 2020
Ascena Retail Group Inc, the parent company of Ann Taylor, Loft, and Lane Bryant, is seeking a 150 million dollar loan from its creditors to keep the company functioning during their bankruptcy filing. Ascena is working on a restructuring plan that will also allow creditors to install new board members. The news was reported by Bloomberg. The...
Jul 22, 2020
Ascena Retail Group, inc. reported net sales for the second quarter of 1,217 million dollars compared to 1,271 million dollars in the year-ago period, reflecting a comparable sales decrease of 2 percent, a decline in other revenue and a decrease in non-comparable sales. Gross margin decreased to 635 million dollars from 660 million dollars,...
Mar 10, 2020
Net sales for the first quarter at Ascena Retail Group were 1,297 million dollars compared to 1,339 million dollars in the year-ago period, which the company said reflect flat comparable sales for the quarter and a decrease in non-comparable sales which include the impact of the store closures. The company reported net income from continuing...
Dec 10, 2019
Ascena Retail Group, Inc. has announced the appointments of Justin MacFarlane as Executive Vice President, Chief Customer Officer, effective December 2, 2019 and promotion of Marisa Baldwin to Executive Vice President, Chief Human Resources Officer, effective immediately. Both MacFarlane and Baldwin, the company said in a statement, will report...
Nov 14, 2019
Net sales for the fourth quarter of fiscal 2019 at Ascena Retail Group, were 1,454 million dollars compared to 1,520 million dollars in the year-ago period, reflecting flat comparable sales for the quarter and the unfavourable impact resulting from the 53rd week recorded in the prior fiscal year. The company said in a statement that gross margin...
Oct 4, 2019
Ascena Retail Group, Inc. for its second quarter reported a net loss of 72 million dollars or 36 cents per diluted share compared to 39 million dollars or 20 cents per diluted share, in the year-ago period, as the company said, an increase in comparable sales was more than offset by the impact of a lower gross margin rate and a lower benefit...
Mar 15, 2019
Consumers looking for affordable womenswear online are soon to have two more options, as Ann Taylor Factory and Loft Outlet are both launching e-commerce websites. While loftoutlet.com is already online, the website for off-price Ann Taylor clothing is set to launch on Tuesday, June 26. Both brands are owned by Ascena Retail Group, one of the...
Jun 21, 2018
Ann Taylor and LOFT Brands just announced that they exceeded their fundraising goal of 5 million dollars for the Breast Cancer Research Foundation. The combined brands surpassed their goal six months ahead of their schedule, creating a new landmark for the fundraiser. "This year's record-breaking $5 million donation is a testament to the...
Dec 15, 2017
The U.S. feminine fashion retailer has made a strategic decision to compete with other clothing rental firms like Rent the Runway, in an attempt to revitalize its struggling fashion business. The brand, long a staple of women's workwear in the U.S., is launching a subscription clothing service, ‘Infinite Style’. The new subscription-based...
Nov 3, 2017
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