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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.
Seven Dress Barn locations in Utah will be closing their doors. They are located in West Jordan, Draper, Layton, Park City, Orem, Riverdale, and St. George.
This is expected to affect dozens of Utah employees and leave vacancies in various shopping centers around the state.
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Contributing: Kaitlyn Workman
