Move Advances Company’s Ongoing Transformation
MAHWAH, N.J.--(BUSINESS WIRE)--May 20, 2019--
ascena retail group, inc. (Nasdaq:ASNA) (“ascena” or the “Company”)
today reported that its Dressbarn brand has announced plans to commence
a wind down of Dressbarn’s operations. This decision has no impact on
the operations of any of ascena’s other brands and will strengthen the
Company’s overall financial performance. Dressbarn is issuing a separate
press release today.
Dressbarn’s wind down is another significant step taken to advance
ascena’s ongoing transformation. This move is in line with the Company’s
commitment to comprehensively assess and optimize its portfolio by
focusing resources on its most profitable brands to position the
business for long-term growth and enhance shareholder value. Today’s
announcement follows ascena’s recently completed sale of its maurices
About ascena retail group, inc.
ascena retail group, inc. (Nasdaq:ASNA) is a leading national specialty
retailer offering apparel, shoes, and accessories for women under the
Premium Fashion segment (Ann Taylor, LOFT, and Lou & Grey), Value
Fashion segment (Dressbarn), Plus Fashion segment (Lane Bryant,
Catherines, and Cacique), and for tween girls under the Kids Fashion
segment (Justice). ascena retail group, inc. through its retail brands
operates ecommerce websites and approximately 3,500 stores throughout
the United States, Canada, and Puerto Rico.
For more information about ascena retail group, inc. visit:
ascenaretail.com, AnnTaylor.com, factory.anntaylor.com, LOFT.com,
outlet.loft.com, louandgrey.com, dressbarn.com, lanebryant.com,
Catherines.com, and shopjustice.com.
Certain information in this press release contains statements that are
forward-looking in nature and involve certain significant risks and
uncertainties. Actual results could differ materially from such
forward-looking information. ascena’s Securities and Exchange Commission
(“SEC”) filings identify many such risks and uncertainties. The
forward-looking information in this press release could be affected by
many factors, including, without limitation, disruptions in operations,
supplier relationships and employee relations given the decision to wind
down Dressbarn’s operations, unanticipated developments that may prevent
or delay wind down activities, changes in financial markets, interest
rates, and foreign currency exchange rates, the ability to achieve
anticipated cost reductions, the ability to achieve a successful outcome
for its portfolio brands and to otherwise achieve its business
strategies, and those additional risks and factors discussed in reports
filed with the SEC by ascena from time to time, including those
discussed under the heading “Risk Factors” in its most recently filed
Annual Report on Form 10-K. We undertake no duty and have no obligation
to update any forward-looking statements contained herein.
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Source: ascena retail group, inc.
Senior Vice President
ascena retail group, inc.