Mahwah, NJ—Ascena Retail Group reported Tuesday adjusted earnings that beat analysts’ forecast, sending the specialty retail group’s share up as much as 9% in after hours trading. For the three months ended Oct.24, the parent of the Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Cacique, maurices, dressbarn, and Catherines …
Krill of Ann Inc, Meyrowitz of TJX Move on to New Roles, New CEOs Appointed
Mahway, NJ and Framingham, MA—Two of retail’s most powerful women executives will be transitioning from their current CEO posts into board positions. Kay Krill, the chief executive, who shepherded Ann Taylor and LOFT brands into expansion, will be moving from her position as president/ceo to board member at Ascena Retail …
Ascena Q4 Results Just Edge Past Forecast
Mahwah, NJ–Ascena Retail Group Inc., which recently bought Ann Inc., swung into a fourth quarter loss due to a write-down on Lane Bryant and falling sales at Justice stores. For the three months ended July 25, Ascena posted a loss of $323.4 million, or $1.98 a share, compared to a …
Ann Inc. Q1 Earnings Rise on LOFT Sales Gains
New York—Ann Inc. said Friday its first quarter sales rose moderately as a sales gain at Loft stores made up for more sales declines at for Ann Taylor stores.. For its first quarter, net income totaled $13.6 million, up from $5.2 million a year ago when a restructuring charge hampered the …
Ascena Acquires Ann Inc. for $2 Billion in Cash, Stock
New York-based Ascena Retail Group Inc finalized a deal yesterday to acquire women’s apparel retailer Ann Inc for $2.15 billion. Both retailers provide apparel and accessories for women in the 20 to 40 age group, according to Reuters. Ann Inc is the owner of Ann Taylor and LOFT brands, two …
Ann Inc. is First Women’s Specialty Retailer to Partner with Give Back Box
Ann Inc., parent company of Ann Taylor and LOFT, is making it super-easy (and free) for their customers to donate gently worn accessories and apparel to Goodwill. The company is the first women’s specialty retailer to partner with Give Back Box, which facilitates charitable donations and sustainability. To participate, clients …
Ann Inc. Deemed Ultra Trustworthy
New York— ANN INC., the parent company of Ann Taylor and LOFT, has been recognized as one of America’s Most Trustworthy Companies by Forbes Magazine. The recognition places ANN INC. among the most trustworthy mid cap companies for 2015. “We are honored to receive this acknowledgment,” said Kay Krill, president …
Ann Inc. Surprises with Better-Than-Expected Q4 Results
New York—With holiday results that beat its own outlook, Ann Inc. today posted a surprise fourth quarter profit increase as sales rose and expenses were checked. For the three months ended Jan. 31, the parent of Ann Taylor and LOFT posted net income of $262,000, or a penny a share. …
Ann Inc. Q3 Profit Down 19%, Sales Miss
New York—Ann Inc. reported Friday that its third quarter earnings slid 19% yet still managed to beat estimates. The women’s specialty store blamed slow consumer traffic, intense promotional headwinds and labor disruption at the West Coast ports. Adjusted earnings came in at 72 cents a share, ahead of analysts’ estimate …
Ann Inc. Enters into a Non-Disclosure Agreement with Golden Gate Capital
New York—Shares of Ann Inc. have been on the rise since Tuesday when the women’s specialty retailer revealed it had entered into a non-disclosure agreement with Golden Gate Capital, a private investment firm. “The company and Golden Gate believe that, given Golden Gate’s expertise in specialty retail and the positive …
Ann Inc. Heads South of the Border
New York—Ann Inc. today announced the opening of its first LOFT store in Mexico. The store is located in the Antea Lifestyle Center in Queretaro, with additional locations planned for later this year in Mexico City’s Parque Toreo Mall and Puebla’s Angelopolis Mall. Ann Inc. is working with its franchise …
Ann Inc. Again Defends Position as Investors Urge Sale
New York—Ann Inc. has once again moved to defend its position after investors have again urged the women’s specialty retailer to explore strategic alternatives, including a sale of the company. Engine Capital, together with its affiliates, and Red Alder, who collectively own in excel of 1% of Ann delivered a …
Week in Review: What to Know Before Labor Day
New York—Ah Labor Day, the last gasp of summer before the craziness of fall (i.e. New York Fashion Week) starts. Maybe because it was so close to the end of August, but the past week has its share of craziness too. ‘Inconspicuous Consumption’ Retail earnings continued, mostly disappointing as Q2 …
Ann Inc. Shareholder Urges Sale for Estimated $2.5 Billion
New York—Yet another retailer is being urged to sell. Engine Capital LP, which along with Red Alder LLC controls “in excess of 1%” of Ann Inc.’s stock, said in a joint letter to the company’s board that Ann Inc. would be worth between $50 and $55 a share to a …
Ann Inc. Q2 Profit Down 8.1, Lowers Outlook
New York— Ann Inc. said today that its second quarter income was down 8.1% For the quarter ended Aug. 2, Ann reported a profit of $32.7 million, or 70 cents a share, down from $35.6 million, or 76 cents a share, a year earlier. Analysts expected 68 cents a share …
Ann Inc. Receives 2014 Gallup Great Workplace Award
New York—Ann Inc., the parent Company of Ann Taylor and LOFT, has been named a recipient of the 2014 Gallup Great Workplace Award. The prestigious award recognizes organizations around the world for having the most highly engaged work environments. “We are so proud to receive the Gallup Great Workplace Award …
Week in Review: 10 to Know
Week in Review: 10 to Know New York—If your name is Diane von Furstenberg, you had a pretty good week. (The only potential name with a better one? California Chrome, the Triple Crown potential). Von Furstenberg nailed one of the most coveted collaborations in fashion: a deal with Google to …
Ann Inc. Q1 Profit Falls, But Still Beats Estimates
Ann Inc. Q1 Profit Falls, But Still Beats Estimates New York—As had been the case with many retailers this earnings season, Ann Inc. reported Friday that its first quarter profit was down 75% hurt by bad winter weather and slower traffic. For the quarter ended May 3, the women’s specialty …
Golden Gate Takes Major Stake in Ann Inc.
New York—Barely a week after reporting its fourth quarter profit nearly doubled and a strategic realignment in its business, Ann Inc. said Thursday that Golden Gate Capital, a private equity investment firm, took a 9.5% equity stake in the retailer, making Golden Gate its largest shareholder. In a regulatory filing, …
Week in Review: 10 Must-Read Articles
New York—One potential next hot product in fashion accessories had a preview this week, but it wasn’t in a major runway show or even a big trade show like the upcoming BaselWorld. No, instead it originated in Silicon Valley where Google shared its soon-to-be-launched Android Wear, a new operating system …