In its second-largest acquisition, Amazon buys the company for $970 million.
The Charming Shoppes acquisition drives overall sales growth for the retail chain.
In fiscal 2012, online and total sales both increased for multichannel merchant Ascena Retail Group Inc., which operates the Justice, Dress Barn and Maurice’s women’s apparel brands.
For the fiscal year ending July 28, Ascena Retail, No.171 in the Internet Retailer Top 500 Guide (learn more about the guide: ), reported:
- E-commerce sales of $160 million, a 54% increase from about $104 million in 2011.
- Total sales were $3.35 billion, up by about 15% from $2.91 billion.
- Comparable-store sales increased 5%.
- Net income was $162.2 million, a 4.9% decrease from $170.5 million last year.
E-commerce revenue represented 4.7% of total sales in fiscal 2012, compared with 3.6% last year.
For the fourth quarter, Ascena also reported:
- E-commerce sales of $39 million, a 49% increase from about $26.2 million in the fourth quarter of last year.
- Total sales of $939.7 million, an increase of about 29.5% increase over $725.8 million.
- Comparable-store sales increased 3%.
- Net income was $1.6 million, compared with $28.2 million in Q4 2011.
E-commerce sales accounted for 4.2% of total revenue in the fourth quarter, compared with 3.6% in the same quarter last year.
Fourth quarter and full year e-commerce sales figures exclude revenue from Charming Shoppes Inc., No. 128 in the Top 500, which Ascena acquired in June of this year for $925 million. Total sales and comparable-store sales include revenue from Charming Shoppes from June 14 onward. Charming Shoppes operates e-commerce sites and physical stores for plus-size women’s apparel brands Fashion Bug and Lane Bryant.