Home / Knowledge / News / Fashion / Specialty retailer AnnTaylor settles California overtime litigation

Specialty retailer AnnTaylor settles California overtime litigation

01
Mar '06
Women's specialty retailer AnnTaylor Stores Corporation announced that it has reached a tentative agreement to settle two previously disclosed putative class action lawsuits related to how the Company classified certain employees under California overtime laws.

The lawsuits are similar to numerous lawsuits filed against retailers and others with operations in California.

While the Company denies the allegations underlying the lawsuits, it has agreed to the tentative settlement to avoid significant legal fees, other expenses and management time that would have to be devoted to protracted litigation.

The settlement, which is subject to final documentation and court approval, will result in a one-time pre-tax charge in the fourth quarter of fiscal 2005 of approximately $6.5 million, or approximately $0.06 per diluted share.

On February 2, 2006, the Company confirmed that it remained comfortable with its previously provided earnings guidance of $1.17 per fully diluted share (on a GAAP basis) for fiscal year 2005.

This guidance excludes the impact of the litigation settlement announced today.

The Company remains comfortable with that guidance, subject to the adjustment for this litigation
settlement.

Ann Taylor is one of the country's leading women's specialty retailers, operating 824 stores in 46 states.

AnnTaylor Stores Corporation


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: Shutterstock

Textiles | On 27th Feb 2020

ADD removal on PTA respite to man-made textiles: Ind-Ra

The withdrawal of anti-dumping duty (ADD) on purified terephthalic...

Interviews View All

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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

Leave your Comments


February 2020

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


Advanced Search