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Fly News Breaks for March 7, 2017
ASNA
Mar 7, 2017 | 06:28 EDT
Citi analyst Paul Lejuez downgraded Ascena Retail to Sell from Neutral saying the company has too many concepts with too many stores in a world increasingly moving to e-commerce. Ascena is behind the curve on omnichannel investment, which is likely to be a continued drag on margins, Lejuez tells investors in a research note post the company's Q2 results. He cut his price target for the shares to $3 from $5.50.
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