Ascena Retail Group Inc. announced that Erin Stern has accepted the position of Executive Vice President and Chief Merchandising Officer with their maurices brand effective April 15, 2013. maurices (based in Duluth, MN) is an 860-store chain serving a twenty-something female (sizes 0-24) in small- and mid-markets. Ms. Stern joins maurices with over two decades of retail experience including Chief Merchant for Juicy Couture and President of bebe Sport. The majority of Erin's retail career was with Gap Inc. where she held several senior merchandising positions across multiple product categories in their Old Navy division.

Ascena Retail Group Inc. Presents at 5th Annual TAG Spring Consumer Conference, Apr-10-2013 09:05 AM. Venue: The InterContinental Hotel New York Times Square, 300 West 44th Street at Eighth Avenue, New York, New York, United States. Speakers: David R. Jaffe, Chief Executive Officer, President and Director.

On March 13, 2013, Ascena Retail Group Inc. and certain of its domestic subsidiaries entered into an amendment and restatement agreement to amend and restate the company’s credit agreement dated as of January 3, 2011, as amended and restated as of June 14, 2012 with the lenders thereunder and JPMorgan Chase Bank, N.A., as administrative agent. The amendment and restatement agreement amended and restated the existing credit agreement by increasing the five-year credit facility by $50 million from $250 million to $300 million. The company then borrowed $263,500,000 under the existing credit agreement to pay off the entire principal balance outstanding under the term credit agreement, dated as of June 14, 2012, among the company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. Immediately after paying off the term credit agreement, the existing credit agreement was amended and restated. The restated credit agreement is among the company and certain of its domestic subsidiaries, and JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., as syndication agent, U.S. Bank National Association and Fifth Third Bank, as co-documentation agents, and J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as joint lead arrangers and joint book runners.  The restated credit agreement provides a senior secured revolving credit facility up to $500 million. The existing credit agreement was scheduled to expire on June14, 2017, but the restated credit agreement will mature on June 14, 2018. The revolving credit facility may be used for the issuance of letters of credit, to fund working capital requirements and capital expenditures, and for general corporate purposes. The restated credit agreement includes a $250 million letter of credit sublimit, of which $60 million can be used for standby letters of credit, and a $25 million swing loan sublimit. The interest rates, pricing and fees under the restated credit agreement fluctuate based on excess availability, as defined in the restated credit agreement.