Ann Taylor news and archive

Ann Taylor and Loft return to Canada through Centric Brands partnership

KnitWell Group brands Ann Taylor and Loft have struck up a new agreement with Centric Brands that will see them make a return to Canada through exclusive retail partner, Hudson’s Bay. The womenswear labels exited the region in 2020 after their former parent company, Ascena, filed for bankruptcy in the US. Now under new ownership, Ann Taylor and...

Business

Sycamore merges brands to form KnitWell Group

Private equity firm Sycamore Partners has formed a new holding company comprising apparel brands Ann Taylor, Loft and Talbots. Under the banner of KnitWell Group, the three labels generate more than three billion dollars in annual sales, positioning the group as one of the largest specialty apparel companies in the US, according to Sycamore....

Business

FullBeauty to acquire Catherines’ ecommerce business from Ascena

Ascena Retail Group, inc. has announced that FullBeauty Brands Operations, LLC will acquire Catherines’ intellectual property assets for a base purchase price of 40.8 million dollars and potential upward adjustment for certain inventory. The company also said that The United States Bankruptcy Court for the Eastern District of Virginia has...

BusinessFeatured

Ann Taylor owner Ascena files for bankruptcy protection

Ascena Retail Group, inc. has entered into a restructuring support agreement (RSA) with over 68 percent of its secured term lenders. The company said in a statement that the plan is expected to reduce Ascena’s debt by approximately 1 billion dollars and provide increased financial flexibility to enable the company to continue its focus on...

Business

Ascena seeks new loan

Ascena Retail Group Inc, the parent company of Ann Taylor, Loft, and Lane Bryant, is seeking a 150 million dollar loan from its creditors to keep the company functioning during their bankruptcy filing. Ascena is working on a restructuring plan that will also allow creditors to install new board members. The news was reported by Bloomberg. The...

Business

Ascena Q2 net loss widens, comparable sales drop 2 percent

Ascena Retail Group, inc. reported net sales for the second quarter of 1,217 million dollars compared to 1,271 million dollars in the year-ago period, reflecting a comparable sales decrease of 2 percent, a decline in other revenue and a decrease in non-comparable sales. Gross margin decreased to 635 million dollars from 660 million dollars,...

Business

Ascena reports profit in Q1, comparables sales remain flat

Net sales for the first quarter at Ascena Retail Group were 1,297 million dollars compared to 1,339 million dollars in the year-ago period, which the company said reflect flat comparable sales for the quarter and a decrease in non-comparable sales which include the impact of the store closures. The company reported net income from continuing...

BusinessFeatured

Ascena Retail Group reports Q4 net loss of 420 million dollars

Net sales for the fourth quarter of fiscal 2019 at Ascena Retail Group, were 1,454 million dollars compared to 1,520 million dollars in the year-ago period, reflecting flat comparable sales for the quarter and the unfavourable impact resulting from the 53rd week recorded in the prior fiscal year. The company said in a statement that gross margin...

Business

Ascena Retail Group's Q2 net loss widens

Ascena Retail Group, Inc. for its second quarter reported a net loss of 72 million dollars or 36 cents per diluted share compared to 39 million dollars or 20 cents per diluted share, in the year-ago period, as the company said, an increase in comparable sales was more than offset by the impact of a lower gross margin rate and a lower benefit...

Business

Ann Taylor joins subscription-based clothing rental business

The U.S. feminine fashion retailer has made a strategic decision to compete with other clothing rental firms like Rent the Runway, in an attempt to revitalize its struggling fashion business. The brand, long a staple of women's workwear in the U.S., is launching a subscription clothing service, ‘Infinite Style’. The new subscription-based...