FINANCE

AnnTaylor Posts Lower Profit, Details Expansion

BY CSA STAFF

New York City AnnTaylor Stores Corp. reported lower quarterly profit on Thursday, hurt by restructuring costs.

Net income fell to $25.9 million in the first quarter that ended on May 3 from $31.5 million a year earlier.

Net sales rose 2% to $591.7 million. Same-store sales fell 4.3%. The company attributed its performance primarily to growth from its LOFT division and, to a lesser extent, its Factory and Internet businesses.

Commenting on the results, Ann Taylor president and chief executive Kay Krill stated: “We are pleased with our performance in the first quarter, particularly in light of the ongoing macro-economic softness and uncertainty that is weighing on the retail sector. We are pursuing a two-pronged strategy focused on strengthening our core businesses and improving our cost structure, and this focus is clearly working.”

The company indicated that it currently expects to open 66 stores in fiscal 2008, vs. its previous expectation of opening approximately 50-55 new stores. The change reflects the retailer’s intention to more aggressively expand Factory and LOFT Outlet openings.

In addition, it plans to open 10 additional LOFT stores, originally expected to be opened in 2009. As a result, the current outlook for 2008 new stores is comprised of 25 LOFT stores, 23 Factory stores, 14 LOFT Outlet stores and four Ann Taylor stores.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Office Depot receives pre-LEED certification for new prototype

BY CSA STAFF

DELRAY BEACH, Fla. Office Depot announced that it has become the first company to achieve volume pre-certification under the pilot Leadership in Energy and Environmental Design (LEED) Portfolio Program for its store prototype design – the retailer’s master set of drawings – from the United States Green Building Council (USGBC).

A USGBC member since 2007, Office Depot was part of the first group of participants to become involved in the pilot of the Portfolio Program. Part of the initiative involves piloting a volume certification path to enable companies to integrate LEED attributes into a prototype design and apply it across multiple buildings.

Office Depot has implemented a number of initiatives over the past couple of years to improve the energy efficiency of our stores and reduce our environmental footprint, said Ed Costa, vp of construction for Office Depot. Achieving Volume Pre-Certification through LEED affirms our leadership position in the retail industry as well as in general building construction. The entire organization is proud of this accomplishment. 

The first Office Depot store to be built to this prototype is located in Austin, Texas and is scheduled to open late next month. According to the USGBC, LEED-Certified buildings reduce energy usage, create less waste and emit fewer harsh chemicals.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Weis Markets to acquire Giant Markets

BY CSA STAFF

SUNBURY, Pa. Weis Markets announced its plans to purchase the stores of Binghamton New York-based Giant Markets. It expects to complete the purchase in by Aug. 21.

Weis Markets will purchase Giant Markets’ Broome County stores located in Binghamton, Vestal, Endicott, Endwell and Johnson City.

 

“This acquisition is an excellent strategic fit for our company. Giant Markets is the market leader in Broome County where they have excellent locations, modern stores and a strong market presence,” said Weis Markets’ vice chairman Jonathan Weis. “For many years, they have been a significant part of the community and they’ve offered an excellent combination of quality, value and service. We are pleased to be working with their associates and look forward to welcoming them to our organization.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...