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Ascena Retail Group Q3 profit up 8%
Suffern, N.Y. — Ascena Retail Group Inc. said Wednesday that its fiscal third-quarter profit rose 8% on increased sales at its Dressbarn, Maurices and Justice clothing stores.
The retailer, formerly known as The Dress Barn Inc., reported net income of $51.8 million for the three months ended April 30, up from $48 million in the year-ago period.
Revenue rose 9% to $722.8 million from $665.5 million in the same quarter a year ago. Dressbarn revenue rose 5% in the quarter, and Maurices revenue jumped 17%. Justice sales rose 6%.
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Macy’s to open at Gurnee Mills
Gurnee, Ill. — Indianapolis-based Simon Property Group announced that Macy’s will open at Gurnee Mills, the largest outlet and value retail shopping destination in Illinois.
The nearly 140,000-sq.-ft. Macy’s full-line department store is slated to open in spring 2013. It will anchor a new full-price wing at the center, adding a new dimension to Gurnee Mills’ value shopping experience.