Mar 29, 2019

Dressbarn's parent company considers selling the chain

Photo: Dave Kotinsky/Getty Images

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.

Go deeper: Retail's risky obsession with wealthy millennials

Go deeper

Situational awareness

Photo: Scott Olson/Getty Images

Catch up on today's biggest news:

  1. Warren supporters form super PAC
  2. We may be on "the brink" of coronavirus pandemic
  3. Pentagon policy chief resigns
  4. National polls show Bernie in control ahead of Nevada
  5. How a Chinese think tank rates all 50 U.S. governors
  6. Sanders and Bloomberg battle over heart health

Trump has declared war on sanctuary cities

Illustration: Sarah Grillo/Axios

Armed with subpoenas, lawsuits and immigration SWAT teams, the Trump administration has declared war on sanctuary cities.

The big picture: President Trump and his administration have used every available tool to try to crack down on local governments that refuse to hold immigrants in criminal custody, block immigration agents from working in county jails or deny federal authorities access to immigrants' records.

Peter Thiel's Founders Fund isn't really Peter Thiel's Founders Fund

Illustration: Photo Illustration: Eniola Odetunde/Axios. Photos: Charles Eshelman, Steve Jennings, and Chip Somodevilla/Getty Images

Founders Fund has raised $3 billion for a pair of new funds, so expect a slew of headlines about how "Peter Thiel's venture capital firm" is now flush with cash.

Behind the scenes: Thiel is essential to Founders Fund, but he's not autocratic. Instead, Axios has learned that he's one of three people with veto power over most FF investments, and is unable to do a deal without approval of the other two.