Ascena Retail Group Inc, a US-based leading specialty retailer offering apparel, shoes, and accessories for women under the premium fashion segments, has announced its comparable sales for the holiday season . For the combined nine-week period of November and December, consolidated comparable sales of the retailer were down 4.4 per cent.
All four segments of the company are showing decreasing sales: Premium Fashion sales dropped (-) 4.2 per cent; Ann Taylor noted (-) 8.2 plunge; LOFT noted (-) 1.8 per cent decline; Value Fashion sales decreased by 6 per cent; maurcies (-) 7.1 per cent; and dressbarn (-) 4.6 per cent. Plus Fashion sales also down surged by (-) 3.7 per cent; (-) 5.1 for Lane Bryant brand; (-) 1.6 per cent for Catherine; and Kids Fashion sales dropped (-) 2.7 per cent.
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David Jaffe, President and CEO, Ascena stated, “We were disappointed by our overall Holiday performance. Outside of discrete peaks during the holiday season, we experienced stronger than expected store traffic headwinds. We are planning for upcoming challenges. We continue to aggressively work our Change for Growth enterprise transformation, and are focused on expense management opportunities to help us navigate the challenging environment.”
