Company Snapshot: Ascena Retail Group
Ascena Retail Group, Inc. was created as a public company effective January 1, 2011. The company is a leading national specialty retailer of apparel for women and tween girls operating through its wholly-owned subsidiaries, the Dressbarn, Maurices and Justicebrands. The company operates nearly 2,500 stores throughout the United States and Canada. Headquartered in Suffern, NYthe company reported $2.9 billion in sales for the fiscal year ended July 30, 2011.
Ascena Retail Group began as The Dress Barn Inc. in 1962. Maurices was acquired by The Dress Barn Inc. in November 2004. In 2009 Dress Barn Inc. acquired Tween Brands Inc. which operated over 800 Justice stores. After re-organizing, the company changed its name to better fit its family of brands.
With its three trade names, the company covers a female at every age range. Dressbarn stores offer casual, career and special occasion fashion apparel and accessories at value prices for women ages 35-55. Preferred Dressbarn cotenants include grocery stores, discount department stores, fashion anchored & soft goods retailers. Maurices stores offer casual and career apparel and accessories at great values to the fashion-conscious woman, ages 17-34 with a 20-something attitude.
Justice stores offer trend-right apparel and accessories at value prices for tween girls ages 7-14. Tween brands preferred cotenants include department stores, discount department stores and soft goods retailers such as Kohl’s, Old Navy & Target. The company is currently exploring opportunities for expansion in Canada. Tween Brands started a “Brothers” line this year that at the moment is only sold online. The brand includes tops and bottoms for boys sizes 7-14.
Ranked 17 in Chain Store Guide’s top apparel retailers by sales, the company moved up from the 32nd spot last year. Reporting a 22.6% increase in sales from year over year. Each brand has a website with online order processing. All three brands operate between 750 stores and 900 stores with Justice bringing in 39.5% of the company’s sales, Dressbarn bringing in 33.9% and Maurices bringing in 26.6%. The company will remain a top retailer and has potential to grow in units and in sales.