Business Services Industry
ANNTAYLOR'S MATERIAL IMPROVEMENTS: ALTERATIONS RESHAPE FIRM'S OUTLOOK
Crain's New York Business, September, 1998 by LEDER, MICHELLE
First the customers left. Then the numbers confirmed the facts. AnnTaylor had lost her way. But now, following four consecutive months of solid sales growth, the classic career outfitter appears to be back on track. Same-store sales are up. There are fewer markdowns, and the selection is better.
Styles are no longer faddish, but fashionable -- a critical issue that had sent many of AnnTaylor's customers off to competing department stores. Wall Street is paying attention again, too, with nearly a dozen retail analysts recommending AnnTaylor Stores Corp.'s stock in just the past month. Now at around $27, the stock has been climbing at a time when many retail and apparel stocks have taken big hits. "This is the first turnaround I've thought was real," says Richard...
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