Home / Knowledge / News / Apparel/Garments / ANN realigns to support integrated stores/online structure
ANN realigns to support integrated stores/online structure
14
Mar '14
ANN INC. announced a strategic realignment of its organization to support an integrated stores/ecommerce structure and position the Company for accelerated growth and efficiency.
 
Commenting on the announcement, ANN INC. President and Chief Executive Officer Kay Krill stated, "Retailing has undergone a sea change over the last few years, driven by the continued rapid shift of consumers' purchasing behavior and the growth of omni-channel shopping.  
 
ANN INC. has been at the forefront of this evolution, investing in the infrastructure and system enhancements that led to the launch of our successful omni-channel platform in 2012. We are taking the next critical step, by realigning our organization to support an integrated stores/e-commerce structure to accelerate our strategic growth agenda and overall financial performance in 2014 and beyond.
 
"The new integrated structure will enhance our focus on delivering great fashion, building our brands and servicing our clients, wherever and whenever she chooses to shop.  In connection with these changes, I am very pleased to announce that Gary Muto has been named to the position of President, ANN INC. Brands, reporting to me, where he will be primarily focused on design, merchandising and marketing for all channels of the Ann Taylor and LOFT brands," said Ms. Krill.
 
The realignment is expected to result in ongoing annualized pre-tax operating savings of approximately $25 million, of which approximately $15 million is expected to be realized in fiscal 2014.  As a result of the strategic realignment, the Company has streamlined its operations, eliminating approximately 100 positions from its corporate workforce.  The Company expects to record a pre-tax restructuring charge of approximately $15 million in connection with the realignment, the vast majority of which is expected to be incurred in the fiscal first quarter of 2014. 
 
"The strategic realignment we are announcing today builds on our ongoing initiatives to expand our omni-channel capabilities, enhance the productivity of our store fleet, grow our international presence, and develop new categories of growth, including the launch of the Lou & Grey brand, while also furthering our objective to maximize the profitable growth of ANN INC.," concluded Ms. Krill.
 
About ANN INC. 
ANN INC. is the parent Company of Ann Taylor and LOFT, two of the leading women's specialty retail fashion brands in North America.  The Company operated 1,025 Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores in 47 states, the District of Columbia, Puerto Rico and Canada as of February 1, 2014.  
 

ANN INC


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search