Home / Knowledge / News / Apparel/Garments / AnnTaylor takes conservative approach to new store growth
AnnTaylor takes conservative approach to new store growth
31
Jan '08
AnnTaylor Stores Corporation announced a multi-year restructuring program that is designed to enhance profitability and improve overall effectiveness, following the Company's comprehensive review of its SG&A cost structure. The Company also announced that, in light of the ongoing macroeconomic weakness and uncertainty in the retail sector, it is taking a conservative approach to new store growth in fiscal 2008.

The key elements of the restructuring program include:

• The optimization of the Company's store portfolio, including the closure of 117 underperforming stores over the 2008-2010 period;
• An organizational streamlining, primarily involving the downsizing of the Company's headquarters staff by approximately 13%; and
• A broad-based productivity initiative, including the strategic procurement of non-merchandise goods and services, to improve efficiencies and effectiveness across the organization and store base.

Commenting on the announcement, Ann Taylor President and Chief Executive Officer Kay Krill stated, "Following a very thorough review of our entire business and cost structure, we are taking actions to enhance our overall effectiveness and improve our profitability, and we believe that doing so will increase our operating margin by more than 200 basis points over the next three years.

This restructuring is designed to position us as a stronger, leaner Company that can be more agile in responding to economic realitiesand marketplace opportunities, and we are confident that this program will not only improve our bottom line, but also enable us to reinvest in our business to drive more profitable growth in the future. I firmly believe we are better positioned today to successfully execute a program of this nature than at any time in our history."

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search