Discount fashion retailer Loehmann's hasn't succumbed to the fate of less-fortunate rivals Filene's Basement, Syms and Daffy's, despite filing for bankruptcy twice in 12 years. With fewer competitors in the field, the 92-year-old chain has embarked on a plan to rebrand itself as a discount boutique, with upgraded store decor and trendier fashions upfront to lure younger shoppers.

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