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Dress Barn Buying Tween Brands
 USA Today reports that Dress Barn is acquiring Tween Brands in a deal worth about $157 million.
Suffern, N.Y.-based Dress Barn also will pay off the bank debt of Tween Brands, the New Albany, Ohio, company behind the Justice stores aimed at girls 7-14.
Dress Barn CEO David Jaffe said Thursday the Justice brand will diversify and complement his company's existing business.
Officials say Dress Barn will allow Tween Brands to operate as a separate subsidiary with its current management team remaining in place.
Brian Sozzi, retail analyst at Wall Street Strategies, told the Wall Street Journal that the acquisition is a "risky move in this environment." Tween Brands has closed some of its Justice stores and recently converted its Limited Too stores to Justice stores.
Posted on June 25, 2009
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Tween Brands to Close 30 to 40 Justice Stores
 Tween Brands is going to closing 30 to 40 of its Justice girl's clothing stores. The company has also been converting its Limited Too stores to Justice stores and expects to complete the changeover by the end of April.
During a talk at the Bank of America/Merrill Lynch consumer conference on Wednesday, company Chief Executive Mike Rayden said the conversion of merchandise is still about 98 percent complete. About 340 of the 560 Limited Too stores have converted signs as well. Most signs are expected to be converted by April.
Tween Brands announced layoffs in February after the company's same-store fourth quarter sales plunged 23%. Tween Brands was recently notified by the New York Stock Exchange that they could be delisted from the NYSE.
Posted on March 12, 2009
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