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Women’s Clothing Chain Dressbarn To Close All Its 650 Stores

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Women’s Clothing Chain Dressbarn To Close All Its 650 Stores

NANUET, NY – MAY 06: Daphne Oz Hosts Book Signing at dressbarn for her Book THE HAPPY COOK at dressbarn on May 6, 2017 in Nanuet, New York. (Photo by Dave Kotinsky/Getty Images for dressbarn)

NEW YORK (AP) — Dressbarn, the women’s clothing chain that’s been around for nearly 60 years, is closing all 650 of its stores.

The company’s chief financial officer, Steven Taylor, said Dressbarn has not been operating at an “acceptable level of profitability in today’s retail environment.”

Its owner, Ascena Retail Group Inc., says it wants to focus on its more profitable brands. Ascena also owns Ann Taylor, Lane Bryant and other clothing stores.

The company did not say when dressbarn will shut all its stores. Dressbarn employs about 6,800 people.

After the news was announced Monday, shares of Ascena Retail Group Inc. rose 2.6% to $1.17 in extended trading. Shares of the Mahwah, New Jersey-based company are down more than 50% so far this year.

Dressbarn has stores located in Arkansas at Fort Smith, North Little Rock, and Hot Springs. Stores in Rogers and Fayetteville recently closed.

- Advertisement -Women’s Clothing Chain Dressbarn To Close All Its 650 Stores
- Advertisement -Women’s Clothing Chain Dressbarn To Close All Its 650 Stores

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