Bloomberg Ascena Retail Group Inc will start winding down its Dressbarn clothing chain, the latest upheaval in a continued retail shakeout. After trying to find a new owner, Ascena said that it’s preparing to close the approximately 650-store chain. No timeline was given, and stores will remain open until the wind-down commences. Ascena, whose brands have come under pressure as ...

Bloomberg Mike Ashley’s Sports Direct International Plc sold its stake in MySale Group Plc after the Australian fashion website withdrew from the UK market, another setback for the billionaire UK retailer. The sports retailer sold its 4.8 percent holding for an undisclosed amount, according to a regulatory filing. MySale shares began selling at $2.91 in June 2014, which would have ...

Bloomberg Southwest Airlines Co mechanics approved a new contract that provides pay increases and a retroactive bonus, closing out more than six years of negotiations that included a lawsuit and an alleged worker slowdown. The five-year agreement won 95 percent support from the Aircraft Mechanics Fraternal Association (AMFA), the union said. About 94 percent of eligible voters participated. The approval ...