Headlines

Ann Taylor to Shutter More Stores

Corporate staff also getting trimmed

Published

15 years ago

July 31, 2009

VMSD Staff

Ann Taylor (New York) said it is expanding its previously announced restructuring initiatives by closing more stores and further reducing its workforce. The moves are expected to save the company an additional $30 million, on top of the $85 million-$95 million the company said it is saving via previous cuts.

In a statement, the womenswear retailer characterized its latest actions as “further optimization of the company’s real estate portfolio” and “further right-sizing of the company’s corporate and divisional organization.” According to Women’s Wear Daily, that translates into 30 more store closings and the elimination of another 160 jobs, primarily at Taylor's corporate office in Times Square.

The company currently operates about operating 940 stores under the Ann Taylor, LOFT, Ann Taylor Factory, and LOFT Outlet brands

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