Counter Culture

We heard from more than one person at last week’s ICSC RECon meeting in Las Vegas that outlet centers are performing well, while other sectors are having trouble. This article confirms the same.
Continue reading ‘Are Outlet Centers Thriving?’

AnnTaylor Stores surprised investors yesterday forecasting a better-than-expected first quarter, with management saying that earnings per share could come in between 45 cents and 47 cents, up from a previously predicted 35 cents to 40 cents. The outlook rose shares 10%.

Granted, Q1 same-store sales were down 4.3%, plunging 11.5% at Ann Taylor units and inching up 0.7% at Loft, but this is favorable news during a time when we aren’t hearing too many good things about the apparel sector.
Continue reading ‘Ann Taylor Gets Lift…Will Apparel Follow?’

Ann Taylor’s announcement yesterday that the company is closing 117 stores doesn’t surprise us. The retailer’s same-store sales declined 9.4% in December year over year, after a third-quarter drop of 0.4%. Plus, peers like Talbots are also cutting back.

The retailer is closing 39 Ann Taylor stores through this year and 2010, as well as 78 of its Loft units. The company operates just over 350 Ann Taylors and 500 Lofts.
Continue reading ‘Ann Taylor is the Latest to Close Stores’