BROWNSVILLE — Dressbarn, the women’s clothing chain that’s been around for nearly 60 years, is closing all 650 of its stores.
There are two Dressbarn stores in the Rio Grande Valley including one in Brownsville and a second in McAllen.
It is not known exactly when the stores will be closed. Dressbarn employs about 6,800 people.
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.”
A prepared statement on the company’s website stated: “Dressbarn isn’t going away just yet, however. All Dressbarn stores are open, and our sales associates are serving customers as usual. You can also continue to shop online at dressbarn.com and use your Dressbarn credit card for purchases. There are no changes to our current return, refund or gift card policies or our loyal rewards program.”
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.
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.
The Associated Press contributed to this report.