Ascena news and archive

Ascena seeks new loan

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...

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Management|ANALYSIS

Analysts see Dressbarn closures as a key step for a positive future for Ascena Retail

New York - Ascena Retail Group (NASDAQ:ASNA) announced in late May its plans to sunset its Dressbarn, closing all its stores. The announcement followed months of speculation regarding a potential sale of the business. Is worth recalling that Ascena Retail Group has struggled for several years, accumulating a total debt that surpasses 1 billion...

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Management

UK’s private equity firm to buy Maurices chain from Ascena

New York - Maurices, the US-based womenswear chain, will be changing hands soon. The fashion retailer is said to be bought by European private equity firm OpCapita, putting an end to Ascena Group’s 14-year ownership. OpCapita announced earlier this week it will acquire a majority stake in the women’s apparel retailer, thus ending 14 years of...

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Report|ANALYSIS

Ascena’s stock shreds over 27 percent on poor profit and comps in Q4

Shares of Ascena Retail Group Inc. (NASDAQ:ASNA) were down 28.6 percent on September, 20 after presenting weak fourth-quarter results and a bleak outlook. The stock hit its lowest price in over seven years. As highlighted by analysts, the main reason for such a dip were lower-than –expected profit and same-store sales for the period. In a report...

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Business

Ascena Retail buys Ann Inc. for circa 2.16 billion

Ascena Retail Group (ASNA) has acquired Ann Inc. (ANN), owner of the Ann Taylor and Loft brands and retail stores, for about 2.16 billion dollars. The deal is expected to be finalised in the second half of this year and will be financed through bank debt. Ascena announced it will acquire Ann for 47 dollar per share in cash and stock. News of the...

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Business

Problems at US West Coast ports costing retailers 7 billion dollars

Contract negotiations between West Coast dockworkers and port terminal operators are being followed quite closely by retailers of all sorts, as months of dealing, delays and other issues might cost retailers up to seven billion dollars. According to a Kurt Salmon analysis, congestion at West Coast ports could cost retailers as much as seven...