So, Ann Taylor
In the hopes of finding more info on Ann's new concept, I headed to the last conference call transcript and to the old press releases, and I found the company has said very little. Thus far, Ann Taylor has only said a couple things about its new concept: It's a billion dollar opportunity, naturally, and Mark Mendelson, most recently of Jones Apparel
Assuming it's targeted at baby boomers, it could very well be a billion-dollar opportunity. But as of right now, it's an Austin powers, pinkie-in-the-corner-of-your-mouth, one-million dollars type of statement, and Ann Taylor is going to have to show the concept won't head down the same path Gap
Currently, this space is dominated by Chico's FAS
While digging through Ann's old press releases, I did notice that Ann Taylor has seen its fair amount of turnover in the last two years. First, there was the COO who came and went in nine months. Then last week, the CFO resigned, and in the past couple of years, the company added a new Chief Information Officer and saw a director depart. Then there's Ann Taylor LOFT, which has struggled lately and also recently saw a change in leadership.
A few Fools have recommended that I take a look at Chico's, but I've been slow to the punch. That said, I'm inclined to look at Chico's before Ann Taylor at the moment. The amount of turnover and moving ahead with the launch of a new concept before clear signs of improvement at LOFT make me a bit wary of the company. Barring a complete collapse in the share price, I'm likely to stay on the sidelines until I see more details on the new concept or a meaningful improvement at LOFT.
- Ann Taylor's LOFT Battles
- Ann Taylor's Got Plans
- Fool on the Street: An Opening for Chico's Investors