May 21, 2019

Dressbarn to shutter its 650-store chain

Photo: Dave Kotinsky/Getty Images

After a failed sale attempt, Ascena Retail Group Inc. announced on Monday it will begin winding down its Dressbarn clothing chain, closing its roughly 650 storefronts, Bloomberg reports.

Details: The parent company's brands — including Ann Taylor — have been the source of broad criticism for failing to appeal to shifting consumer preferences, per Bloomberg.

"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

The company already restructured in 2011, and in March announced that it sold a majority stake in its Maurices chain to private-equity group OpCapita for $300 million.

  • No timeline has been publicized for the closure process.

Go deeper: U.S. and China retail sales are moving in the wrong direction

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Biden says he'll follow CDC mask guidance: "Listen to the Faucis of the world"

Joe Biden said on ABC's "This Week" Sunday that he will follow the Centers for Disease Control and Prevention's new recommendation that people wear face coverings when they leave home to prevent the spread of the coronavirus.

Why it matters: After the White House announced the guideline last week, President Trump said he will likely not wear a mask and emphasized that the guidance was "voluntary."

Louisiana governor says state will run out of ventilators on April 9

Louisiana Gov. John Bel Edwards said on CNN's "State of the Union" Sunday that modeling projects his state will run out of ventilators for coronavirus patients on April 9 and hospital beds on April 11.

Why it matters: New York is the only state in the country with a worse per-capita death rate than Louisiana, where around 12,500 people have been infected and 409 have been killed.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 1,216,422 — Total deaths: 65,711 — Total recoveries: 252,478Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 312,245 — Total deaths: 8,503 — Total recoveries: 15,021Map.
  3. Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. The virus is hitting poor, minority communities harder and upending childbirth.
  4. 2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August."
  5. Business updates: Restaurants step up for health care workers. Employees are pressuring companies to provide protections during coronavirus.
  6. Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Education update: Many college-age students won't get coronavirus relief checks.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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