Lane Bryant CEO Departs After 4 Months
Linda Heasley, CEO of women's apparel brands Lane Bryant and Catherines, — both owned by Ascena Retail Group — has left the company just four months after being promoted to the position. Currently, Heasley has no comment on the matter and Ascena only confirmed her departure saying that she is "no longer part of the business." Previously, Heasley had a six-year stint as CEO of The Limited.
Total Retail's Take: Lane Bryant's 3.1 percent same-store sales decline over the holiday season likely was a contributing factor to Heasley's exit, as well as a 30 percent drop in its stock price over the last year. Reports are speculating that Ascena Retail Group may shift its attention to the Ann Taylor Loft business, which it acquired nearly two years ago along with the Ann Taylor brand. No word if Heasley left on her own accord or if she was forced out. We'll keep an eye out to see where she ends up.