During the period, which ended Nov. 3, the company's same-store sales dropped 0.4% year over year. This was due to a 4.4% fall at its 354 Ann Taylor stores and a 0.3% drop at the 500-unit Ann Taylor Loft division. Both chains were hurt by unseasonable warm weather during the quarter, management says.
Krill says she sees sales picking up this month because of colder weather. She is also encouraged by fourth-quarter revenues because of perceived better product offerings, mores "seasonless" apparel that is not as impacted by weather, healthy inventory levels, more gift-giving options in stores and the company's newly-launched beauty line.
Ann Taylor is still on track to open its new "modern boomer" concept next fall, which Krill says could become a $1-billion business. Additionally, the retailer is launching its first Loft outlet stores next year. Ann Taylor currently operates 67 namesake factory stores.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.