Retail penny stocks are currently facing tough conditions in their industry. The growing demand for e-commerce shopping has sent brick and mortar stores crashing down in their droves.
Finding retail penny stocks that are surviving this tough time says a lot for the company attached.
Retail Penny Stocks: Ascena Retail Group (NASDAQ:ASNA)
Ascena Retail Group has been going against the grain in an industry where store closures and major bankruptcy is now commonplace. Some of the most respected names in the industry have closed their doors. Most notoriously, America’s original department store, Sears.
Considering its surroundings, Ascena Retail Group is not just doing okay, it’s doing rather well. The parent company of Ann Taylor and Lane Bryant is doing all it can to keep from going under. But it is working.
At $3.08 and up on the day 0.16%, the ASNA penny stock is already increasing, having grown over 25% in January alone.
At the end of the day, when you are investing in any stock, be it a giant conglomerate or a lowly penny stock company, you need to know the numbers are moving in your favor.
Ascena is beginning to make real progress. The company showed comparable sales gains of 4% in fiscal Q4. Now 4% isn’t exactly going to kick Amazon (NASDAQ:AMZN) out of bed BUT consider the bigger picture: this is the first quarter in over three years where the company saw gains, but it’s, crucially, also been the rockiest three years in retail history where practically every other brick and mortar store has dropped figures.
The Bottom Line
The fact that Ascena is turning it around at this difficult point says a lot for this penny stock. It has its troubles of course—its Dressbarn chain isn’t exactly bringing in the bread—but its Justice chain has managed double-digit comparable increases and is pushing Ascena’s overall bottom line skyward.
The ASNA penny stock will probably take you on a rollercoaster ride over the next period, and while that will bring some big dips, it will also, inevitably, bring investors up high.
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