Ascena Retail Group (ASNA) -- which owns the Ann Taylor, Dress Barn, Loft, Lane Bryant, Justice, Maurices and Catherines stores -- plans to shutter between 250 and 650 locations over the next two years. Chief executive David Jaffe made the announcement during a conference call with investors Thursday, and he didn't specify how many store closures will affect each brand. Jaffe said Ascena is facing a "persistent traffic decline" and expects that to remain a "major headwind" for the company. GameStop (GME) said in March it will close more than 100 retail locations. A June 2 report from Credit Suisse estimates 20% to 25% of American malls will close within the next five years.

Source: CNN June 10, 2017 18:33 UTC