ADVERTISEMENT

ADVERTISEMENT

Maurices sales drop over holidays

Maurices did not get everything it wanted for Christmas. The Duluth-headquartered retailer reported year-over-year sales had dropped 8 percent over the quarter that ended Jan. 28 and included the holiday shopping season. Net sales at the women's ...

2479580+kingMAURICES0424c6 copy.jpg
The entryway to the Maurices Headquarters on Superior Street features sleek lines and a large illuminated letter "M." (file / News Tribune)

Maurices did not get everything it wanted for Christmas.

The Duluth-headquartered retailer reported year-over-year sales had dropped 8 percent over the quarter that ended Jan. 28 and included the holiday shopping season. Net sales at the women's fashion chain dropped to $274.5 million during the last fiscal quarter from $291.6 million during the same quarter a year ago.

"We continue to see the disruptive trend toward e-commerce transactions, and the growing influence of online engagement on traditional brick and mortar activity across our sector," parent company Ascena Retail Group CEO David Jaffe said in a press release earlier this week.

Ascena tempered investor expectations early this year by releasing disappointing holiday sales data in January. Days later the company announced a restructuring that saw 165 employees laid off, including 25 at Maurices.

Maurices is in Ascena's Value Fashion segment along with Dressbarn; the two reported a $19.8 million loss in the last quarter.

ADVERTISEMENT

Maurices did open another seven locations in the past quarter, bringing its total up to 1,012. Other brands owned by Ascena saw their store counts drop over the holiday quarter.

Ascena's stock continued to fall to one of its lowest levels this week, closing Thursday at $4.25 per share.

Related Topics: MAURICES
Brooks Johnson was an enterprise/investigative reporter and business columnist at the Duluth News Tribune from 2016 to 2019.
What To Read Next
Artificial intelligence can now act as an artist or a writer. Does that mean AI is ready to play doctor? Many institutions, including Mayo Clinic, believe that AI is ready to become a useful tool.
The set of bills would require up to 24 weeks of paid family and medical leave from all Minnesota employers, regardless of size.
Bankruptcy information gathered from cases filed in U.S. Bankruptcy Court in Duluth.
Recently sold properties from St. Louis County.