Ascena (ASNA) Opens New Store In Ohio

Ascena Retail Group Inc. (NASDAQ:ASNA) is all set to introduce a new Lane Bryant outlet in Ohio, in line with its expansion strategy. Located at Tanger Outlets Columbus in Sunbury, the store is expected to open doors to its customers with a grand event between Jun 24 and Jun 27.

The company has announced a host of lucrative offers to attract shoppers. Customers attending the Grand Opening will not only get an opportunity to check the brand’s latest collection, but also gain access to exciting giveaways and deals.

Buyers who will spend $75 or more on the opening day and the following days will get a free #ImNoAngel keychain, until stocks last. Moreover, shoppers visiting the new store on the weekend following the opening day will get a chance to win one of the 25 Lane Bryant Gift Cards worth $25, each day.

Lane Bryant is a wholly owned subsidiary of Ascena that operates about 764 stores in the U.S. as well as online. The brand targets plus-size women aged between 30−45, and caters to women's special sizes of 14–28.

Ascena has been on a roll in terms of store expansion. In fact, the company opened a Lane Bryant store last week, housed at Plaza 183 in Cerritos, CA.

Apart from Lane Bryant, the company has also been in full swing with regard to the expansion, relocation and remodeling of its dressbarn stores. With its attractive, unique and reasonably priced product assortments, ranging from sizes 4–24, dressbarn is keen on enhancing its customers’ shopping experience. Ascena operates over 830 dressbarn stores in the U.S.

With consistent implementation of its store-expansion strategy, Ascena aims to extend its presence and recognition across communities. As of the end of third-quarter fiscal 2016 and following the acquisition of ANN Inc., Ascena is operating over 4,900 stores across the U.S., Canada and Puerto Rico.

Ascena closed trade at $7.41 on Monday, marking an upside of 1.8%.

Zacks Rank

Ascena currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same space include The Children's Place Inc. (NASDAQ:PLCE) , Destination XL Group Inc. (NASDAQ:DXLG) and Christopher & Banks Corp. (NYSE:CBK) , each carrying a Zacks Rank #2 (Buy).