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Ascena Retail Q4 profit falls, but beats Street
Suffern, N.Y. -- Ascena Retail's net income plunged 94% in its fiscal fourth quarter, dragged down by costs related to its acquisition of Charming Shoppes Inc. Its adjusted earnings topped Wall Street's view.
Ascena, owners of the Dressbarn, Maurices and Justice, announced in May that it was buying Charming Shoppes, whose divisions include Lane Bryant, Fashion Bug and Catherines Plus for approximately $890 million. Ascena is in the process of closing Fashion Bug's stores.
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SPL Realty secures 11 leases for Lorna Jane’s U.S. expansion in California
Santa Monica, Calif. -- SPL Realty Partners, exclusively representing Australian women’s activewear retailer Lorna Jane, announced 11 leases have been secured for Lorna Jane’s expansion into the United States.
The retail sites are located throughout the Southern California region including stores in Santa Monica, Woodland Hills, Glendale, Irvine and Huntington Beach.
A warehouse was also secured for the support of the network of retail stores and online fulfillment in Santa Monica, Calif.