NEW YORK (AP) — 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."
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.
Dressbarn has one location in Rochester at 70 25th St SE,
- Dressbarn closing all 650 stores, including Rochester
- Rochester pet store closing north location
- Rochester's only Salvation Army store is closing
- Rochester Kmart to close
- UPDATE: Rochester and Hampton Shopko stores to close
- Book World to close all stores in 7 states, including Mason City location
- Report: 7 Younkers stores in Iowa, including Mason City, will be closing
- Downtown Rochester intersection to close
- Rochester cheese plant closing down
- CBD store set to open in Rochester