Ann Taylor, Dress Barn owner to shutter stores to drive cost savings

Ascena Retail Group, parent company of Ann Taylor, Lane Bryant, Dress Barn and several other brands, said last week it will shutter a significant number of stores to drive cost savings.

The New Jersey-based company will find substantial rent reductions or else close more than 650 stores over the next two years, according to the company’s fiscal third-quarter earnings report.

The retailer has already closed 71 stores since the beginning of the year, with 50 more set to close during this quarter.

The…

Ann Taylor, Dress Barn owner to shutter stores to drive cost savings syndicated post

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