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News Flash
Ann Taylor LOFT net sales rise in Dec
11 Jan '08
2 min read
Commenting on the results, Ann Taylor President & Chief Executive Officer Kay Krill stated, "December was a disappointing month, as double-digit traffic declines at both divisions and a highly promotional retail environment depressed both sales and margins for the Company.
At the Ann Taylor division, in response to the weak traffic and soft in-store metrics, we stepped up our promotional activity to maintain a healthy inventory position, which negatively impacted margin.
At LOFT, traffic was also very weak and, despite positive client reaction to our assortments and continued solid in-store metrics, we responded with increased promotional activity to keep our inventory turning.
As a result, LOFT's margin performance, while improved significantly versus the prior year, fell short of our expectations. We continue to manage the business very tightly to minimize the impact of the ongoing macroeconomic softness, and we plan to enter fiscal 2008 in a healthy inventory position."
At the Ann Taylor division, in response to the weak traffic and soft in-store metrics, we stepped up our promotional activity to maintain a healthy inventory position, which negatively impacted margin.
At LOFT, traffic was also very weak and, despite positive client reaction to our assortments and continued solid in-store metrics, we responded with increased promotional activity to keep our inventory turning.
As a result, LOFT's margin performance, while improved significantly versus the prior year, fell short of our expectations. We continue to manage the business very tightly to minimize the impact of the ongoing macroeconomic softness, and we plan to enter fiscal 2008 in a healthy inventory position."
AnnTaylor Stores Corporation
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