Ascena news and archive

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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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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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...