Ascena Retail Group Reports Flat Sales, Widening Net Loss
Ascena Retail Group, parent company to retailers such as Lane Bryant and Catherines, reported lackluster third-quarter numbers this week. Net sales were down to $1.266 billion from $1.267 billion the year before, and overall comparable sales were flat. Comps were up 5 percent at Ann Taylor and Loft, but down 3 percent at Lane Bryant and Catherines.
At Dressbarn, which is to be folded, comps fell 4% as net sales fell to $177.3 million from $187.4 million last year.
Read more at Retail Dive.