A Decade of Failed Acquisitions
Ascena (ASNA) is the proud owner of once iconic but now struggling retail brands Ann Taylor, LOFT, and Lane Bryant. Like owners of other "lofty" retail brands - Ascena is not immune to the impact of the rise of Amazon (AMZN) and specialty fashion e-commerce merchants.
But Ascena's rapid descent is much more striking than the now-frequent story of the fading of a once-mighty brick-and-mortar retailer as online shopping ascends. Looking back, what unfolded was a series of failed acquisitions and management blunders that began ten years ago.