The Briefing Room
General Category => Economy/Business => Topic started by: Applewood on May 21, 2019, 01:44:50 pm
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Dressbarn to close all 650 stores: Owner Ascena "never really invested"
Dressbarn, the women's clothing chain that's been around for nearly 60 years, is closing all 650 of its stores. The unprofitable business had lost "customers, sales and share" after owner Ascena Retail Group failed to invest in the brand, one analyst said.
Ascena didn't say when the stores would shutter. The chain employs about 6,800 workers. 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."
https://www.cbsnews.com/news/dressbarn-closing-dressbarn-to-close-all-650-stores-after-losing-customers/ (https://www.cbsnews.com/news/dressbarn-closing-dressbarn-to-close-all-650-stores-after-losing-customers/)
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Bummer. I kind of like that store.
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Me too, they always had some cute things. But, I seldom go to a clothing store anymore. I order everything on line.
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Bummer. I kind of like that store.
There was a Dress Barn across the street from my office when I worked in downtown. Bought several items there. Not bad. That store is long gone, as are a few others in this region. Used to be a Dress Barn in all of the shopping centers around here. Now there are only a handful left. By the way, years ago, the store name was two words, not one.
Looks like the owners really didn't care if Dress Barn survived or not. Perhaps Dress Barn was sacrificed to save Ann Taylor and the owners' other brands.