The retail industry suffered another blow Monday after Dressbarn's parent company announced it was shutting down the clothing chain's operations. Credit: CNN

Women’s clothing chain Dressbarn to close all its 650 stores, two in SWFL

Dressbarn, the women’s clothing chain that’s been around for nearly 60 years, is closing all 650 of its stores.

The retail store has two locations in Southwest Florida, both in Lee County; 519 SW Pine Island Road, Unit 113 in Cape Coral and at Miromar Outlets 10801 Corkscrew Road in Estero.

The company’s chief financial officer, Steven Taylor, said Dressbarn has not been operating at an “acceptable level of profitability in today’s retail environment.”

Its owner, Ascena Retail Group Inc., says it wants to focus on its more profitable brands. Ascena also owns Ann Taylor, Lane Bryant and other clothing stores.

The company did not say when Dressbarn will shut all its stores. Dressbarn employs about 6,800 people.

After the news was announced Monday, shares of Ascena Retail Group Inc. rose 2.6% to $1.17 in extended trading. Shares of the Mahwah, New Jersey-based company are down more than 50% so far this year.

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