News Flash

Christine Beauchamp named President of Ann Taylor

13 Aug '08

2 min read

AnnTaylor Stores Corporation announced the appointment of Christine M. Beauchamp to the position of President, Ann Taylor Stores, effective immediately. Ms. Beauchamp, who has been a strategic consultant to the Company since earlier this year, succeeds Adrienne Lazarus, who is leaving the Company. Ms. Beauchamp will report to Kay Krill, President and CEO of the Company.

Commenting on the appointment, Ms. Krill stated, "This transition of leadership at our heritage brand is taking place at an exciting time of evolution for Ann Taylor. I am delighted that Christine, a seasoned retail executive and valued partner to me over the last several months, will be assuming the leadership of our Ann Taylor Stores division.

She has a deep understanding of our brand and customer base and will move seamlessly into this critical role. At the same time, I want to thank Adrienne for the many contributions she has made to the Company over the past 17 years."

Added Ms. Beauchamp, "I am delighted to be joining the Company at such an exciting time, and I look forward to unlocking the enormous potential of the Ann Taylor brand." Ms. Beauchamp was previously with Limited Brands, most recently as President and CEO of Victoria's Secret Beauty.

Prior to Limited Brands, Ms. Beauchamp was a consultant with The Boston Consulting Group, specializing in consumer goods and retail. She began her career as a financial analyst at Goldman Sachs. Ms. Beauchamp holds an undergraduate degree from Princeton University and an MBA from the Harvard Business School.

Commenting on the Company's performance, Ms. Krill stated, "While we have not yet completed our financial close for the second quarter, I am pleased to report that our conservative approach to managing the business in this difficult consumer environment is expected to result in second quarter EPS that exceeds our previous guidance range of $0.42 to $0.47.

Furthermore, notwithstanding our better-than-expected results for the first half, we are maintaining our outlook for diluted EPS for the year in the range of $1.80 to $1.90, as the macroeconomic environment remains very weak and uncertain and traffic levels continue to be challenging."

AnnTaylor Stores Corporation

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