-
Ascena completes Charming Shoppes tender offer
Suffern, N.Y. -- Ascena Retail Group Inc. announced it has successfully completed its tender offer for Charming Shoppes Inc.'s outstanding shares.
Ascena announced in May it that was buying Charming Shoppes, whose banners include Lane Bryant, Fashion Bug, and Catherines Plus Sizes, for about $890 million.
Charming Shoppes will become an Ascena subsidiary and will stop trading on the Nasdaq and Chicago Stock Exchange once the transaction is complete. Ascena’s retail subsidiaries include Dressbarn, Maurices and Justice.
-
Caseys Q4 profit up but misses Street
Ankey, Ohio -- Casey's General Stores Inc. reported that its fiscal fourth-quarter profit fell short of expectations due to weak margins on gasoline sales.
The convenience store operator said that it earned $23.1 million for the quarter that ended April 30, up from $22.8 million last year. Revenue increased 13% to $1.75 billion.
Casey's said that its gas margins were down nearly two cents per gallon compared with last year. However, the company said it was able offset that with strong sales and margin gains inside its stores.