I'm an xl in retailer tops, and to be frank sometimes some of the xl are too fitted and i return them. i bought this blouse in size large and it fits loose everywhere. it drapes very nicely in the front and back, and the arms fit loose. i'm making a point to say this to let people know to size down. 
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i was concerned this blouse might be too short because it looks very short on the model, but for me it hits at a nice length; i have a short waist and am busty. the lace doesn't hit my neck