US: The Dress Barn becomes Ascena Retail Group
Apparel retailer The Dress Barn, which operates the Dressbarn, Maurices and Justice brands, has completed the reorganisation of its holding company and will now be known as Ascena Retail Group.
The company said the move was designed to provide it with strategic, operational and financial flexibility, adding that business operations, directors and executive officers would not change as a result of the reorganisation.
“In recent years, we’ve become a fundamentally different company that extends well beyond the original Dressbarn concept and brand,” said David Jaffe, president and CEO.
“We also believe that adopting a new holding company structure will enable each of our brands to better leverage our shared corporate infrastructure and to focus their efforts on delivering a great experience to their customers.”
Teen apparel retailer Ascena Retail Group Inc has posted an 8% rise in third quarter profit thanks to solid gains across its Dressbarn, Maurices and Justice brands....
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