"We nearly doubled our e-commerce business, with approximately 50% online penetration, demonstrating our ability to pivot to a digitally-led culture."
Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
The retailer's sales jumped 11.3% but margins were pressured as consumers switched to e-commerce amid the coronavirus crisis.
"The decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability."
The company reported weaker-than-expected revenue growth in North America but online sales topped $1 billion for the first time.
"It’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time."
The retailer plans to focus on the "healthy core" of Gap specialty stores while exiting "those that do not fit the future vision quickly.”
The apparent demise of Randa's $460 million proposal clears the way for Perry Ellis to be taken private by founder George Feldenkreis.
The decision to spin off Wrangler and Lee into a separate company reflects VF's strategy of focusing on active-lifestyle brands such as The North Face.
"We are making progress toward our transformation of running a more operationally excellent company while amplifying the power of the Under Armour brand."
The sporting goods retailer attributes the 2% drop in Q4 same-store sales to "significant weakness in the Under Armour brand."
Comparable sales rose 1.3% in Q4 as the retailer's renewed emphasis on apparel helped bring in more shoppers and persuaded them to spend more.
