As Ascena start shuttering 1/3rd of its stores, store personnel, store operations, IT, planners, buyers, all seem to be on chopping block
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So, how is sycamore partners doing with the transition? They say they are committed to unlock Lane Bryant's potential. Are they keeping the current employees?
If you look at Ann, Inc when it was purchased it was a flop. It is still not making money! It has brought profitable brands like Lane Bryant down and even Loft is missing their customer now. If you do too many things over and over again customers will leave.
I don't think so. I think the problem is that they forced Ann Taylor to do things the old, bad way of the other brands rather than leave it alone as the profit and cash cow that it was. The portfolio before that acquisition was a collection of net loss garbage full of bureaucracy and mid level corporate riff raff. It was a culture clash and the executives did a terrible job leading everyone forward. Instead, they pulled Ann Taylor backwards, put all their failed ascena henchmen in charge and destroyed the golden goose.
It s—s for the hard working employees ascena had . But there problems all started when they bought Ann Taylor they decided to treat the rest of their brands bad . Definitely didn’t take care of their people to allow them to take care of the customers. Buyers should of listened to what people wanted not buy the ugliest items they could find and call it fashion forward .