The Future of Retail
The CEO of the International Council of Shopping Centers, Tom McGuy, discusses his prospects for retail. The vendor announced on Friday that it would close 25 stores across the country by the end of June and at least three more stores in July. Dressbarn, which lists the closing stores on its website, plans to close all 650 outlets in the first half of 2020  0028 | 28 stores will be the first places to be closed after Dressbarn and its parent company, Ascena Retail Group. Last month, the brand will gradually close its retail business. Ascena Retail Group is also the parent company of Anne Taylor, LOFT, Lane Bryant and Justice.
Dressbarn announced more than two dozen stores that will be closed by the end of June and July.
For more than 50 years, Dressbarn serves the needs of fashionable women and we thank all of our dedicated followers for their commitment to Dressbarn and our respected customers, "said Stephen Taylor, Chief Financial Officer , in a press release last month. , "This decision was difficult but necessary because the Dressbarn chain was not operating at an acceptable level of profitability in today's retail environment."
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The company then said that all stores and the merchant's website will work as usual. Customers will still be able to use the Dressbarn credit card and there are no changes to the retailer's return, refund or gift policy so far.
Dressbarn's announcement comes as several retailers, including Payless ShoeSource and Gymboree, they will close some of their stores by the end of this year, partly because of slow sales and rising e-commerce.
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A complete list of Dressbarn stores that are closing on their website.
Shelly NG contributed to this report.