12/12/12

An acquisition helps apparel retailer Ascena boost Q1 web sales 156%

The growth reflects the acquisition of Charming Shoppes.

Mark Brohan , Research Director

Ascena Retail Group Inc. started the 2013 fiscal year with bigger e-commerce sales, largely a result of the apparel retailer’s acquisition of Charming Shoppes Inc. in June.

For the first quarter of fiscal 2013 ended Oct. 27, Ascena, No. 171 in the 2012 Internet Retailer Top 500, reported:

The web accounted for 7.3% of total sales compared with 4.2% in the prior year.

Ascena, which also operates the Justice, Dress Barn and Maurice’s women’s apparel brands, acquired Charming Shoppes (No. 128) in a deal valued at $890 million.

Topics:

Ascena, Charming Shoppes, Charming Shoppes bought, Dress Barn, Justice, LaneBryant.com, Maurice's, online women's apparel, Q1 2013 earnings, Top 500

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