Dressbarn's parent company considers selling the chain
Ascena Retail Group, the parent company of Ann Taylor and Lane Bryant, is considering a sale of women's clothing chain Dressbarn, per Bloomberg.
Why it matters: When I was a kid, my mom and everyone else's mom shopped at Dressbarn. Apparently that's no longer true.
- Context: Ascena said earlier this month that its value unit, which includes both Dressbarn and Maurices, was operating at an "unacceptable level of profitability." Last week it agreed to sell Maurices to a private equity firm for $300 million.
The bottom line: "Any potential move comes as retailers face challenges that include a costly battle to ward off Amazon as it pushes deeper into apparel. Value retailers like Dressbarn are also up against fast-fashion rivals like H&M and Zara, which have won over a growing portion of younger shoppers," according to Bloomberg.