Extended store closures, furlough programs and base salary reductions are just some of the measures announced by U.S.-based fashion retailers such as Crocs, Ascena and G-III since the start of the week.
The Mahwah, New Jersey-based fashion retailer announced declining sales and widening losses in the second quarter on Monday, but reassured shareholders that it is making progress with its turnaround efforts.
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.
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.
The owner of Dressbarn, Ann Taylor and Lane Bryant, among others, revealed on Wednesday that, after more than two decades at the company, David Jaffe is retiring as CEO, a role in which he will be replaced by Gary Muto.
The beauty retailer has announced the appointment of Mary Beth Edwards as group VP for global sourcing, as well as the promotion of Heather Plutino, current group VP of finance, to the company’s senior leadership team.