The Mahwah, New Jersey-based womenswear retail group’s board of directors approved a 1-for-20 reverse stock split on Thursday, in an effort to comply with the Nasdaq’s minimum share price and stave off delisting.
The Mahwah, New Jersey-based womenswear retail group reported net income of $32 million, or $0.16 per diluted share, for the first quarter on Monday, as its cost reduction initiatives made up for declining sales.
The co-located trade fairs have unveiled innovation as the theme of their next event in January 2020, promising a new one-day conference, an expanded educational program and a refreshed artistic direction for the show.
The New Jersey-based owner of Ann Taylor, Lane Bryant and other brands, slipped into net loss in the fourth quarter, reporting a slight dip in sales of 4.3% as it continues to wind down its Dress Barn value banner.
Lamadrid, who most recently served as senior vice president, finance and chief accounting officer, has been promoted to the role of executive vice president and chief financial officer, effective August 4.
Weeks after it announced the shuttering of its Dressbarn brand, the Mahwah, New Jersey-based fashion retailer reported a narrower-than-expected adjusted net loss in the third quarter but disappointed with stagnant sales.
Ascena Retail Group has announced that its Dressbarn brand is planning to begin a wind down of its operations, yet another step in its parent company’s efforts to turn its business around and improve shareholder value.