Dressbarn is closing all of its retail outlets.
The ladies’s retailer announced Monday “plans to open a wind-down of its retail operations, including the eventual closure of its roughly 650 retail outlets.”
Retail outlets remain open alongside with the Dressbarn net direct, the firm stated in a assertion.
“For more than 50 years, Dressbarn has served ladies’s style wants, and we thank all of our devoted friends for their dedication to Dressbarn and our valued potentialities,” stated Steven Taylor, Dressbarn chief financial officer, in an announcement. “This resolution changed into as soon as sophisticated, but needed, because the Dressbarn chain has now not been working at an appropriate diploma of profitability in nowadays’s retail ambiance.”
This year has been a tricky year for retail outlets with more retailer closings announced than in all of 2018. With Dressbarn closures, there are more than 7,000 closings announced for 2019.
Coresight Compare tracked the 5,864 closings in 2018, which incorporated all Toys R Us retail outlets and 1000’s of Kmart and Sears areas. The story year for closings changed into as soon as 2017 with 8,139 shuttered retail outlets.
All Dressbarn retail outlets are open alongside with the collect direct, the assertion stated. There are now not any modern changes to Dressbarn’s return, refund, or reward card insurance policies.
“For the length of the wind-down course of, we can proceed to provide our potentialities with the same suited skills both in-retailer and on-line, providing them even better affords and fee,” Taylor stated. “We are in a position to work to assist our friends through the transition and retain existing relationships with our distributors, suppliers, and other key stakeholders through this course of.”
Per the assertion, plans for closing particular particular person retail outlets and files about retailer closing gross sales “will most likely be shared for the length of the wind-down course of.”
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Dressbarn is segment of Novel Jersey-essentially based Ascena Retail Community, whose other brands encompass Ann Taylor, Lane Bryant, Catherines, Cacique and Justice. The firm now not too prolonged ago sold its Maurices save.
In a separate assertion from Ascena, the firm stated the resolution has no affect on the operations of the opposite brands.
“Dressbarn’s wind down is one other predominant step taken to come ascena’s ongoing transformation,” the assertion stated. “This switch is in step with the Firm’s dedication to comprehensively assess and optimize its portfolio by focusing resources on its most winning brands to position the industry for prolonged-timeframe development and pork up shareholder label.”
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