Ascena Retail Group, Inc.’s (ASNA - Free Report) Ann Taylor Factory and LOFT Outlet are ready to execute plans to lure online customers by expanding its e-commerce presence with the launch of individual websites. While LOFT Outlet rolled out its collection on LOFTOutlet.com on Jun 19, Ann Taylor Factory is scheduled to launch on Jun 26 on AnnTaylorFactory.com. This will provide 24/7 access to the exclusive and trendy clothing as well as aesthetic assortments of these brands.
Further, this launch will not only attract existing customers but also introduce the brands to a new client base. These new online sites will showcase all the products that are available to customer at Ann Taylor Factory and LOFT Outlet stores. Customers can easily avail latest, versatile workwear pieces as well as feminine prints and patterns, and more.
Currently, Ann Taylor Factory and LOFT Outlet operate 126 and 166 stores, respectively, in the United States and Puerto Rico. While Ann Taylor Factory inaugurated its first store in 1993, LOFT Outlet introduced its store in 2008.
Ascena remains on track to boost customers’ shopping experience and innovate ways to offer fashionable merchandise at compelling prices. In addition, the company’s three-year ‘Change for Growth’ enterprise transformation program, which focuses on cost savings, capability enhancement and improving core business, is encouraging. Also, management is strengthening the executive team by making changes to its leadership structure to drive growth across its brand portfolio.
However, Ascena has been witnessing softness across its Value Fashion and Premium Fashion segments for a while now. Additionally, the company has been grappling with margin contractions primarily due to lower comparable sales (comps). Ascena also incurred loss per share in the last two quarters.
Analysts are becoming bearish on the stock in the last 30 days. The Zacks Consensus Estimate loss of 6 cents for fiscal 2018 has widened by a penny in the said time frame.
Nevertheless, shares of this Zacks Rank #3 (Hold) have surged 64.2% in the past six months, outperforming the industry’s 5.8% upside.
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