All 650 Dressbarn locations are being shuttered, Ann Taylor's parent company says
Ann Taylor parent Ascena Retail Group Inc. is deleting one brand from its portfolio, announcing its plan to shutter all 650 Dressbarn locations as part of an ongoing effort to grow the company.
On Ascena’s most recent earnings call in March, Chief Executive Gary Muto talked up the progress at Dressbarn, but didn’t deny its shortcomings.“[W]hile the new Dressbarn leadership team has delivered improved year-on-year performance, the brand is operating at an unacceptable level of profitability due to the significant deleverage from fiscal 2018,” he said according to a FactSet transcript.
Back in 2015, Ascena tried updating Dressbarn’s image with a new ad campaign featuring a high-fashion model, Hilary Rhoda, and actual farm animals, shot by renowned fashion photographer Patrick Demarchelier.Also: Walmart’s digital efforts paying off in battle with Amazon
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