Ascena net loss widens to $238M

Ascena Retail Group recently reported that third quarter net sales dropped to $1.266 billion from $1.267 billion for the same period last year, with comparable sales flat year over year, according to a company press release. Net loss rose to $238 million.  Ascena’s brands include An Taylor, Lane Bryant, Loft, Justice and Catherines…

The group is embarking on a new try at a turnaround with a new CEO who said that the company’s Ann Taylor and Loft are iconic brands with more potential.

A  new cost reduction program is in place the company will address product and inventory issues.

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