Loft fashion stumbles put Ann Taylor in bind; Company seeks leader to shore up its affordable line.(NewsAnnTaylor Stores Corp.)

Crain's New York Business, February, 2007 by Butler, Elisabeth

Byline: Elisabeth Butler Kay krill is finding out just how big her shoes really are. Ann Taylor Stores Corp.'s chief executive, who made her mark in the industry by launching the company's hugely popular Loft chain, is once again looking for someone to run Loft as well as she did. Her successor, Donna Noce, lasted just seven months in the job, leaving late last month after sales plummeted and the stock tanked.

Same-store sales at Loft, now a 416-unit chain focusing on affordable career clothes, fell 8.1% in December, far more than those at most other retailers. The company's stock has fallen 22% since the problems first surfaced in late October. It closed Friday at $35.33. Ms. Krill, who is filling in until a new candidate surfaces, says she can repair the...

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