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Acquisition weighs on Ascena comps
Strong sales at Maurices and Lane Bryant weren’t enough to lift Ascena in the first quarter, as the company reported a decrease in comps.
For the period ended Oct. 24, the company reported a net loss of 10 cents per diluted share compared to net income of 32 cents per diluted share in the same period of fiscal 2015. The company blamed the decrease on transaction costs related to the acquisition of Ann Inc., which closed during the first quarter fof fiscal 2016. Comps dropped 3% in the first quarter.
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Fast-fashion giant to pursue LEED with new Manhattan outpost
Hennes & Mauritz AB (H&M) is going green for its first store in Lower Manhattan.
The retailer will open a 25,000-sq.-ft. store at Westfield World Trade Center, set to open in spring 2016. It will be H&M’s 17th location in New York City, and its first U.S. store to apply for LEED (Leadership in Energy & Environmental Design) certification.

