All Dressbarn stores in the U.S. are closing their doors

Dressbarn is shutting down all of its stores in the United States, the retailer announced on Monday.

"This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today's retail environment," Dressbarn CFO Steven Taylor said in a statement. There are about 650 Dressbarn stores, and the company said they won't all close down right away.

Dressbarn was founded in 1962, and is owned by the Ascena Retail Group, which also operates Ann Taylor, Lane Bryant, Catherines, Cacique, and Justice.

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