OPERATIONS

Ann Taylor Names New Execs

BY CSA STAFF

New York City Ann Taylor Stores has added two executives to join its Ann Taylor Stores Division team.

Lisa Axelson has been named senior VP of design, and Mary Kay O’Connor-Wente has been named senior VP, director of stores.

Previously, Axelson recently served as senior VP of design for Club Monaco since October 2005. She began her career at Gap, Inc., working on the Banana Republic and Gap brands for 10 years.

O’Connor-Wente was most recently zone VP, west for Express. Prior to Express, O’Connor-Wente served in various field-leadership roles during her 15-year tenure at Victoria’s Secret.

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Burlington Coat Factory cuts 1Q loss

BY CSA STAFF

BURLINGTON, N.J. Burlington Coat Factory reported that net sales for the first quarter ended Aug. 30 were $707 million, compared with $678.8 million for the comparative period ended Sept. 1, 2007, a 4.2 % increase. Comparative-store sales increased 0.2% for the quarter.

The company recorded a net loss of $32.5 million for the quarter compared with a net loss of $50.4 million for the same period last year.

 

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NRF ask Congress to consider 2nd stimulus package

BY CSA STAFF

WASHINGTON The National Retail Federation is urging Congress to hold a lame duck session to address the nation’s economy as soon as possible after the November elections, and to include tax relief for consumers in any economic stimulus package that is adopted.

The United States is in the midst of a national crisis, NRF president and ceo Tracy Mullin said. Extraordinary measures are needed to address this profound economic emergency that has affected every American. 

Consumer confidence has been badly eroded by the foundering economy and instability of the financial markets, Mullin said. Because consumer spending represents two-thirds of GDP and supports tens of millions of jobs, it is difficult if not impossible to foresee an improvement in overall economic growth until consumer confidence and spending improve. 

Mullin said she believes a second round of stimulus checks would provide a much-needed boost in consumer spending.

 

Mullins comments came in a letter sent today to House Speaker Nancy Pelosi, D-Calif.; House Minority Leader John Boehner, R-Ohio, Senate Majority Leader Harry Reid, D-Nev., and Senate Minority Leader Mitch McConnell, R-Ky.

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