Ascena Retail sees additional $100M-$150M in cost savings by FY19
After more than six months of extensive planning, ascena retail group begins the execution phase of its major enterprise transformation plan. In addition to the ongoing implementation of its $235M cost-savings initiative associated with its integration of ANN INC., the Company expects its new Change for Growth program will deliver an incremental $100M-$150M of cost savings by fiscal 2019. The Change for Growth program will refine ascena's operating model to increase its focus on key customer segments, improve its time-to-market, reduce working capital, and enhance its ability to serve its customer on any purchasing platform, all while better leveraging the company's powerful shared services platform. The Company is making significant organizational changes as part of its accelerated execution plan, and has restructured its business into four operating segments.