Home / Knowledge / News / Retail / Ascena to close down Dressbarn business

Ascena to close down Dressbarn business

27
May '19
Pic: Dressbarn
Pic: Dressbarn
Ascena Retail Group has announced that its Dressbarn brand is planning to commence a wind down of Dressbarn’s retail operations, including the eventual closure of its approximately 650 stores. This decision has no impact on the operations of any of Ascena’s other brands and will further strengthen the company’s overall financial performance.

“For more than 50 years, Dressbarn has served women’s fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers. This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment. 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. We will work to assist our associates through the transition and maintain existing relationships with our vendors, suppliers, and other key stakeholders through this process.” Steven Taylor, chief financial officer of Dressbarn, said.

All Dressbarn stores are open and conducting business as usual, as is Dressbarn’s e-commerce site. Customers can continue to shop at Dressbarn in-store and online and use Dressbarn-branded credit cards for purchases. There are no current changes to Dressbarn’s return, refund, or gift card policies, Dressbarn said in a press release.

Dressbarn intends to continue paying its vendors and suppliers in full in the ordinary course for products and services provided to Dressbarn during its wind down process. Troy Taylor, president of financial advisory and investment banking firm Algon Group, has been appointed as independent director to the board of directors of The Dressbarn. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: UNCTAD

E-commerce | On 19th Sep 2021

Switzerland commits $4.4 mn for UNCTAD’s e-com, digital economy work

Switzerland recently announced a contribution of $4.4 million to the...

Pic: Shutterstock/humphery

Textiles | On 18th Sep 2021

China wants to join CPTPP; Japan to consult members to respond to bid

Chinese commerce minister Wang Wentao recently submitted an...

Pic: Shutterstock

Textiles | On 18th Sep 2021

Eurozone GDP recovers quicker than expected after lockdowns: EU report

The eurozone economy recovered more rapidly than considered earlier...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

<b>Anjali Bhaskar</b> has an experience of 12 years in the fashion...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search