Ascena closing up to 650 clothing stores including Dress Barn

Gladys Abbott
June 12, 2017

Ascena Group, the company the operates Ann Taylor, Loft, Dress Barn, Lane Bryant and other retailers will close as many as 650 locations in the coming two years, the company announced.

Ascena Retail Group owns Ann Taylor, Dress Barn, Loft, Lane Bryant, Justice, Maurices and Catherines. The company had 4,850 stores overall as of April 29.

It's not yet clear how many stores of each brand will be shuttered, or where those closures will happen. Ascena could not be immediately reached for comment.

Jaffe said the company's stores have seen "persistent traffic decline" in recent months.

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Ascena now operates 4,800 stores throughout the United States, Canada and Puerto Rico.

"We expect these factors will remain major headwinds for the foreseeable future and reflect an accelerated shift to consumer demand toward e-commerce", he said. Among other large brick-and-mortar national retailers feeling the pinch are J.C. Penney, Macy's, Sears and Kmart.

Another 400 stores could close unless lower rents can be arranged.

Sales fell to $1.57 billion, down 6% from $1.67 billion.

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