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Dress Barn closing all 650 stores

The Dress Barn will be closing all 650 of its stores according to the company’s CFO. Dress Barn has one location in Elk Grove at 9630 Bruceville Road. No word yet on when the stores will close.

From AP News Services

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.”

Taylor also said that during the “wind down process, we will continue to provide our customers with the same great experience both in-store and online, offering them even better deals and value.”

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.

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