Commenting on the appointment, Ms. Krill stated, "This transition of
leadership at our heritage brand is taking place at an exciting time of
evolution for Ann Taylor. I am delighted that Christine, a seasoned retail
executive and valued partner to me over the last several months, will be
assuming the leadership of our
Added Ms. Beauchamp, "I am delighted to be joining the Company at such an
exciting time, and I look forward to unlocking the enormous potential of the
Ann Taylor brand." Ms. Beauchamp was previously with Limited Brands, most
recently as President and CEO of Victoria's Secret Beauty. Prior to Limited
Brands, Ms. Beauchamp was a consultant with The Boston Consulting Group,
specializing in consumer goods and retail. She began her career as a
financial analyst at Goldman Sachs. Ms. Beauchamp holds an undergraduate
degree from
Commenting on the Company's performance, Ms. Krill stated, "While we have
not yet completed our financial close for the second quarter, I am pleased to
report that our conservative approach to managing the business in this
difficult consumer environment is expected to result in second quarter EPS
that exceeds our previous guidance range of
The Company will report its second quarter results on
About Ann Taylor
Ann Taylor is one of the country's leading women's specialty retailers,
operating 941 stores in 46 states, the
FORWARD-LOOKING STATEMENTS
Certain statements in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements may use the words "expect", "anticipate", "plan", "intend", "project", "may", "believe" and similar expressions. Forward-looking statements also include representations of the expectations or beliefs of the Company concerning future events that involve risks and uncertainties, including:
-- the Company's ability to predict accurately client fashion preferences;
-- competitive influences and decline in the demand for merchandise offered by the Company;
-- the Company's ability to successfully execute brand extensions and new concepts;
-- effectiveness of the Company's brand awareness and marketing programs, and its ability to maintain the value of its brands;
-- the Company's ability to secure and protect trademarks and other
intellectual property rights in
-- general economic conditions, including the impact of higher fuel and energy prices, interest rates, a downturn in the retail industry or changes in levels of store traffic;
-- fluctuation in the value of the U.S. dollar against foreign currencies or restrictions on the transfer of funds;
-- fluctuation in the Company's level of sales and earnings growth;
-- the Company's ability to locate new store sites or negotiate favorable lease terms for additional stores or for the lease renewal or expansion of existing stores;
-- risks associated with the performance and operations of the Company's Internet operations;
-- a significant change in the regulatory environment applicable to the Company's business;
-- risks associated with the possible inability of the Company, particularly through its sourcing and logistics functions, to operate within production and delivery constraints and the Company's dependence on a single distribution facility;
-- the uncertainties of sourcing associated with the current quota environment, including changes in sourcing patterns resulting from the elimination of quota on apparel products and the re-imposition of quotas in certain categories, and other possible trade law or import restrictions;
-- risks associated with the Company's reliance on foreign sources of production, including financial or political instability in any of the countries in which the Company's goods are manufactured;
-- risks associated with a failure by independent manufacturers to comply with the Company's quality, product safety and social practices requirements;
-- the potential impact of natural disasters and public health concerns, particularly on the Company's foreign sourcing offices and manufacturing operations of the Company's vendors;
-- acts of war or terrorism in
-- work stoppages, slowdowns or strikes;
-- the Company's ability to hire, retain and train key personnel;
-- the Company's ability to successfully upgrade and maintain its information systems, including adequate system security controls;
-- the Company's ability to continue operations in accordance with its business continuity plan in the event of an interruption;
-- the Company's ability to achieve the results of its restructuring program, including the risk that the benefits expected from the restructuring program will not be achieved or may take longer to achieve than expected; and
-- changes in management's assumptions and projections concerning costs and timing in execution of the restructuring program.
Further description of these risks and uncertainties and other important factors are set forth in the Company's latest Annual Report on Form 10-K, including but not limited to Item 1A - Risk Factors and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations therein, and in the Company's other filings with the SEC. Although these forward-looking statements reflect the Company's current expectations concerning future events, actual results may differ materially from current expectations or historical results. The Company does not assume any obligation to publicly update or revise any forward-looking statements at any time for any reason.
SOURCE AnnTaylor Stores Corporation