Ann Inc. (New York), corporate owner of retailers Ann Taylor, Loft and Lou & Grey, announced sales and performance expectations for 2015. It anticipates that net sales will increase to $2.56 billion, up slightly from the previous year’s sales of $2.53 billion. It also plans to open 40 new stores, while closing 35 over the course of the year.
The company shared that it is working to keep margins low by closely controlling its inventory. Women’s Wear Daily reports that one of its successful tactics has been waiting to buy inventory closer to season, to ensure products are on trend. The company is also testing some products in certain markets to make sure they sell before placing larger orders and stocking them in additional stores.
Ann Inc.’s President and CEO Kay Krill said these measures have already helped the company perform well this year, noting that, in 2015, it saw its “most efficient first quarter in seven years.”