Last week, Lane Bryant, a unit of Ascena Retail Group Inc. (ASNA - Snapshot Report), took its statement of ‘fashion for everyday and style just for you' forward by declaring a store opening in Illinois. The outlet opened with a weekend celebration on Nov 1.
Located at University Mall in Carbondale, the new Lane Bryant store shares the dais with other retail companies such as Bed Bath & Beyond Inc. (BBBY - Analyst Report), Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA - Snapshot Report) and Bath & Body Works.
During the opening weekend celebration, the company, which competes with Citi Trends, Inc. (CTRN - Analyst Report) distributed 150 $25 Lane Bryant gift cards to its customers at the new store.
Apart from the announcement of the above-mentioned store, last week Lane Bryant declared the opening of one store each in South Carolina, South Dakota and Pennsylvania. Simultaneously, the company announced the opening of a repositioned store in Pennsylvania.
Lane Bryant is a renowned women's curvy specialty apparel retailer, offering designer and high-quality fashion from sizes 14 to 28. The brand’s assortments comprise an extensive range of formal and casual apparel, together with accessories, footwear, hosiery and Cacique – the brand’s intimate apparel range. Lane Bryant operates over 800 full-line and outlet stores in 48 states across the United States, targeting plus-size women aged 30 to 45, and serves women's sizes 14–28.
Ascena Retail Group is a specialty retailer that offers clothing for women as well as teen girls and boys. This Zacks Rank #3 (Hold) company provides apparel, accessories, footwear, undergarments and lifestyle products such as bedroom furnishings and electronics. The company’s operating segments include Justice, Lane Bryant, Maurices, Dressbarn and Catherines. Some of the popular brands sold by the company include Justice, Brothers, Lane Bryant, Cacique, Right Fit, Maurices, Studio Y, Dressbarn, Catherines, Maggie Barnes, Liz&Me and Serenada.
As of Sep 24, 2013, the company operated nearly 3,900 stores in 48 states, the District of Columbia, Puerto Rico and Canada.
In its last earnings release, Ascena outlined its plan to open about 180–190 stores during fiscal 2014 while shuttering 115–125 stores.