David Jaffe, CEO And President Of Ascena Retail Group, Inc., Honored As EY Entrepreneur Of The Year 2013 Family Business Award Of Excellence Winner

Ascena Retail Group, Inc. (NASDAQ:ASNA) today announced that David Jaffe, President and CEO of Ascena Retail Group, has been named the National EY Entrepreneur Of The Year Family Business Award of Excellence winner, recognized for building a company with multiple retail brands, at the EY Strategic Growth Forum® in Palm Springs, California.

“Winning the EY Entrepreneur Of the Year 2013 Family Business Award of Excellence is an honor for all of us at Ascena,” said David Jaffe, President and Chief Executive Officer, Ascena Retail Group. Inc. “This Award truly recognizes the vision we shared a decade ago, that together we could take this quiet little company, dressbarn, and make it into something much bigger; by creating a whole new paradigm for a retail holding company.”

“With the support and hard work of Ascena’s associates, shareholders, Board of Directors, vendors, and many more, but most importantly, with the inspiration of my parents, Roslyn and Elliot Jaffe, who together made a dream become reality in 1962 and who still remain steadfastly committed today, we did it.”

“Today, Ascena Retail Group is a leading retail holding company with five great brands: Lane Bryant, Catherines, maurices, dressbarn, Justice and Brothers; and 50,000 dedicated associates doing $5 billion in sales.”

“It is the family values that my parents put into place that not only created the culture for dressbarn and now Ascen, but guided me and our team to achieve something that a lot of people said could not be done. I am proud of the team’s accomplishments and together we look forward to a very promising future.”

Bryan Pearce, EY Americas Director, Entrepreneur Of The Year, commented, “Family businesses remain so important to the world’s economy, as they think not in months, but in generations, and not always in rocketing share prices but in stability and resilience. Jaffe is a great example of remaining true to the family culture and values while also embracing the best management practices that the corporate world has to offer.”

EY Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 150 cities in over 60 countries.

About Ascena Retail Group, Inc.

Ascena Retail Group, Inc. (NASDAQ:ASNA) is a leading specialty retailer offering clothing, shoes, and accessories for missy and plus-size women, under the Lane Bryant, Cacique, maurices, dressbarn and Catherines brands; and for tween girls and boys, under the Justice and Brothers brands. Ascena Retail Group, Inc. operates through its subsidiaries approximately 3,900 stores throughout the United States, Puerto Rico and Canada.

For more information about Ascena Retail Group, Inc. and its brands, visit www.ascenaretail.com, www.shopjustice.com, www.lanebryant.com, www.maurices.com, www.dressbarn.com, www.catherines.com, www.cacique.com and www.shopbrothers.com.

Copyright Business Wire 2010

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