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Stock Market & Financial Investment News

News Breaks
January 2, 2013
05:41 EDTASNAAscena Retail downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Ascena Retail citing near-term sales trends concerns and lowered its price target for shares to $20 from $25.
News For ASNA From The Last 14 Days
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February 17, 2015
13:00 EDTASNAAscena Retail to close Brothers brand
Ascena Retail Group announced that as part of a strategic review of its Justice business, it has decided to close its Brothers brand. Operations are expected to be fully wound down by the end of the company’s fiscal year. Ascena CEO David Jaffe commented, “We are mindful of the impact this decision has on our customers and associates. At this point in its evolution, it is appropriate for Justice to focus on its core girls business, including refinement of its merchandise assortment and overall marketing strategy.” Wind-down costs associated with the decision to close Brothers are not expected to be material to the company’s financials. For FY14, Brothers represented less than 1% of the total Ascena revenue base, and the Brothers brand has been operating at a loss since its inception.

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