ASCENA RETAIL GROUP PROVIDES ADDITIONAL BUSINESS UPDATE ON COVID-19
ASCENA RETAIL GROUP (ASNA)
Last ascena retail group earnings: 6/10 04:06 pm
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US:NASDAQ Investor Relations:
ascenaretail.com/investors.jsp
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Source: GlobeNewswire
MAHWAH, N.J., March 30, 2020 (GLOBE NEWSWIRE) -- ascena retail group, inc. (Nasdaq: ASNA) (“ascena” or the “Company”) today announced additional measures being taken to mitigate the financial impact of COVID-19. Gary Muto, Chief Executive Officer of ascena commented, “We have been continuously monitoring the impact of COVID-19 and are putting our associates, customers and community at the center of everything that we do. In light of the current environment, we have extended the temporary store closures and will continue to reassess as information becomes available. We are taking immediate steps to reduce costs and preserve cash so that we are able to resume operations when we emerge from this crisis.” Due to the uncertain environment, the Company made the extremely difficult decision to implement a furlough program across its business, including all store associates and close to half of its corporate associates. During this time, furloughed associates who are participating in any
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