- Dale Arden Chong |
Ascena Retail Group, the company behind brands such as LOFT, Lou & Grey, Lane Bryant, and more, has announced in a press release that it will be begin “wind down of Dressbarn’s operations.” This decision will not effect Ascena Retail Group’s other brands.
With this shift in operations, Ascena plans to focus its resources towards its most profitable brands for longterm growth.
According to a statement issued by Dressbarn, its retail locations and its e-commerce site are currently still operating. However, as part of the wind down, the brand’s approximately 650 stores will eventually shut down.
“This decision was difficult, but necessary…” said Dressbarn’s chief financial officer Steven Taylor in a statement. “…the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment.”
Plans for closing invidual locations will be shared throughout the wind down process, with Dressbarn notifying its associates and providing transition support.