Wednesday, May 22, 2019

Franklin's Dress Barn to close - date TBD

The Franklin Village Drive store is one of 650 stores nationwide being closed.

"Dressbarn's owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. 
Ascena has built up a portfolio of apparel brands over the past decade through acquisitions, including plus-size retailer Lane Bryant and women's apparel brand Ann Taylor. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. 
Same-store sales for the year ended July 2018 were down 2%, according to Factset. The company had $1.33 billion in total debt, in the same period. Shares of the company, which have a market value of $214.4 million, are down 55% year-to-date 
Looking to stem the losses, Ascena is turning to pruning its less successful brands."

Continue reading the DressBarn article online

MA Store listing

US Store listing

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