Ascena to wind down Dressbarn business, shut 650 stores

[Eugene]

Source: Reuters

BUSINESS NEWS MAY 20, 2019 / 5:14 PM / UPDATED 14 MINUTES AGO

Ascena to wind down Dressbarn business, shut 650 stores

(Reuters) - Ascena Retail Group Inc said on Monday it would wind down its women’s budget clothing chain, Dressbarn, shutting about 650 stores in the United States, as it sharpens its focus on profitable brands.

Ascena’s shares, which have more than halved this year, were up about 3 percent in extended trading.

The company, which also houses fashion brands Ann Taylor and Lou & Grey, said the move would strengthen its overall financial performance.

“This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment,” Dressbarn Chief Financial Officer Steven Taylor said.

-snip-

Read more: https://www.reuters.com/article/us-ascena-retail-dressbarn/ascena-to-wind-down-dressbarn-business-shut-650-stores-idUSKCN1SQ29L

[mrs_p]

1. Ugh. This is seriously the only

Store that has clothes that fit that I like.

[JenniferJuniper]

2. I found a last minute interview suit there

the night before a job interview last month. Took all of 15 minutes to pull it together. Got the job.