Published: Tue, May 21, 2019
Finance | By Loren Pratt

Women's clothing chain Dressbarn to close store in Manhattan, nationwide

Women's clothing chain Dressbarn to close store in Manhattan, nationwide

The Mahwah, New Jersey-based company has built up an array of retail chains, most recently with the 2015 purchase of Ann Taylor and Loft brands.

Dressbarn's announcement pushes that total beyond 7,000 stores shuttering, with USA Today reporting the record is 8,139 store closures in 2017. There are no changes to the chain's return, refund or gift card policies.

"This decision was hard, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today's retail environment", said Steven Taylor, chief financial officer of Dressbarn. On behalf of the entire Dressbarn team, we would like to express our deepest gratitude for your loyalty and your business.

Ascena Retail Group did not release a timeline for the closures, and said stores and the website remain operational. This means that we will eventually be closing all of our stores.

"Dressbarn isn't going away just yet, however".

There are two Dressbarn stores - in Charleston and Graniteville - on Staten Island. Dressbarn said that information will come soon, and added customers can keep shopping.

"We invite you to shop with us and stock up before we close our doors".

Including Dressbarn, more than 7,000 store closings have been announced so far this year - more than in all of 2018, USA Today reported. Dressbarn lost market share to rivals by failing to cater to younger shoppers or families, with rivals such as Target and H&M winning over customers, GlobalData Retail analyst Neil Saunders wrote in a research note.

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