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.