(Photo Credit: Dressbarn)
Dressbarn To Close For Good
Going-out-of-business sales seem to be everywhere these days. Electronic stores, video stores, and even department stores are closing their doors at an alarming rate. And now, add Dressbarn to the ever increasing list.
After over fifty years of selling women’s clothing and accessories, Dressbarn announced that it will be closing all 650 of its stores across the country. Dressbarn Chief Financial Officer Steven Taylor stated that the decision to close the stores was due to the fact that Dressbarn had “not been operating at an acceptable level of profitability in today’s retail environment” and that the parent company Ascena, would like to focus on it’s more profitable brands.
There have not been any details about the closure timeline for specific stores or about pay for the over 6,800 Dressbarn employees. Dressbarn opened its doors in Stamford, Connecticut in 1962, selling dresses for working women at a time when the number of women in the workforce was on the rise.
Dressbarn is apart of the Ascena Retail Group which includes stores like Ann Taylor, Justice, Lane Bryant, and Loft. Ascena Retail Group has been reporting a sales loss across all of its brands.
