Ann Taylor
Headquarters:
7 Times Square
New York, NY 10036
Employees: 5,500
CEO: Kay Krill
Website: http://www.anntaylor.com
Stock Symbol:
ANN
Career
Page
Ann Taylor is a specialty retailer of women's clothing offering suits, separates, dresses, shoes and accessories. There are 935 stores in 46 states, District of Columbia and Puerto Rico.
The Company meets the needs of modern women's
busy lifestyles by providing a full range of career, casual and
occasion offerings in one location.
Ann Taylor Stores Corporation operates
under three distinct brands: Ann Taylor, Ann Taylor
LOFT, and Ann Taylor Factory. Ann Taylor stores offer
a complete range of contemporary American classics that are feminine,
polished and versatile. Ann Taylor LOFT offers updated classic
style with a more relaxed sensibility - at lower prices. Ann
Taylor Factory, originally the company's clearance outlet, delivers
its own uniquely designed apparel, reflecting Ann Taylor style
at significantly reduced prices.
The company's merchandise is manufactured
in over 26 countries, with approximately 32% made in China, 14%
in Hong Kong, 12% in the Phillippines, and 6% in South Korea.
The company has flagship stores in New
York, Chicago and Los Angeles.
In fiscal 2008, Ann Taylor reported sales of $2.2 billion, down from $2.4 billion the previous year, and net loss of $333.9 million. By division, net sales at Ann Taylor were $689.2 million in 2008, compared with net sales of $866.6 million in 2007. At LOFT, net sales were $1.08 billion in 2008, compared with net sales of $1,17 billion in 2007.
Ann Taylor President & Chief Executive Officer Kay Krill said, "The fourth quarter of 2008 was a particularly challenging period for both the overall retail industry and our Company, reflecting extremely weak macroeconomic fundamentals, including historically low consumer confidence and a broad-based decline in consumer spending -- particularly on women's apparel. In addition, the financial crisis and rising unemployment especially impacted our Ann Taylor division, where professional working women represent a large part of our client base."
The Company is planning an aggressive cost reduction and expects to close 163 stores. The Company closed 60 stores in 2008, comprised of 33 Ann Taylor stores and 27 LOFT stores.
The Company opened 66 stores during 2008 and ended the year with 935 stores, comprised of 320 Ann Taylor stores, 510 LOFT stores, 91 Ann Taylor Factory stores and 14 LOFT Outlet stores.
In fiscal 2009, the Company plans to close another 37 stores under the program, comprised of 10 Ann Taylor stores and 27 LOFT stores, with the balance of the stores identified for closure targeted to close in fiscal 2010.
History
Ann Taylor's rich heritage dates to 1954,
when founder Robert Liebeskind, the son of a dressmaker, opened
his first shop. Back then, "Ann Taylor" represented
a best-selling dress style that had been gifted to the storeowner
by his father. The "Ann Taylor" design embodied the
well-dressed woman, and the Ann Taylor legacy was born.
The first Ann Taylor store opened in New
Haven, CT in 1954. "Ann Taylor" was the name of a best-selling
dress at the founder's father's store. Both the best-selling
dress and the name "Ann Taylor" were given from a father
to his son for good luck.
Benefits
- Medical Benefits
- Dental Benefits
- Vision Benefits
- Life Insurance
- Short-term Disability Plan
- Long-term Disability Plan
- Flexible Spending Accounts
- Transportation Reimbursement Incentive Program
- 401k Savings Plan
- Pension Plan
- Tuition Assistance Program
- Associate Discount Stock Purchase Plan -
15% discount
- Savings Bonds
- Adoption Assistance Program
- Employee Assistance Program
- Paid Time Off
- Merchandise Discount - Ann Taylor offers a generous associate
discount of 40% off full-priced and 25% off marked-down items
from Ann Taylor, Ann Taylor Loft and Ann Taylor Factory Direct,
purchased in stores or online. Discount privileges are extended
to the associate, his or her spouse, and authorized eligible
dependents included on the associate's most recent income tax
return.
|
