Friday, October 4, 2019

Ascena Retail Group swings to Q4 loss; wind down of Dressbarn ‘on track’

Chain Store Age
The parent company of Ann Taylor, Lane Bryant and other brands posted a loss in its fourth quarter as it completed the divesture of one of its brands and make progress on the shuttering of another.

During the quarter, Ascena Retail Group finalized the sale of its 934-store Maurices division to an affiliate of British private equity firm OpCapita. The company is also in the midst of closing down its Dressbarn division. Ascena said the wind down of Dressbarn is progressing well, and it is track to complete store closings by the end of 2019. (Dressbarn had 616 locations remaining at the end of the fourth quarter.). . . more