In furtherance of its expansion strategy to drive top-line
growth, the upscale segment retailer
) together with The Breast Cancer Research Foundation® (BCRF),
recently opened its first international store in Toronto, Canada.
The company also announced its intention to open a second store in
the country by the end of November this year, at Yorkdale Shopping
Covering an area of over 3,800 square feet, the store is located
at Toronto Eaton Center shopping mall. The new store will offer
full range of its women's apparel and accessories at a similar
price as in its U.S stores.
Location wise, the shopping mall is one of the top tourist
destinations in Toronto, attracting approximately one million
visitors per week. Moreover, the mall is connected with two subway
stations, Dundas and Queen, and is linked with The Bay department
store and Marriot hotel.
Further, the company, in partnership with BCRF, will host a
shopping event on October 13, 2012 from 1pm to 5 pm. An amount
equal to 10% of sales from the event will be donated to BCRF.
So far in fiscal 2012, the company has opened 25 stores and
shuttered 15. Ann intends to open approximately 65 new stores and
close 30 stores in the current fiscal. Excluding the newly opened
Canadian store, at present the company operates 962 stores under
the names of Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet
stores across 46 states, the District of Columbia and Puerto
We believe the company's strategy of expanding internationally
together with improving its e-commerce capabilities will boost its
top and bottom lines.
Ann Taylor currently retains a Zacks #1 Rank implying a
short-term Strong Buy rating. Moreover, we are maintaining a long
term 'Outperform' recommendation on the stock. The company directly
Chico's FAS Inc.
Headquartered in New York, New York, Ann operates as a national
retailer of upscale women's clothing. Its stores offer a full range
of apparel and accessories under the names Ann Taylor, Ann Taylor
Studio, ATdenim, Ann Taylor Petites and LOFT. It serves customers
through its traditional retail stores, online stores -
anntaylor.com and LOFTonline.com - as well as via phone. The
company targets college-educated women between the ages of 25 and
55, who are either professionals or employed in managerial
ANN INC (ANN): Free Stock Analysis Report
CHICOS FAS INC (CHS): Free Stock Analysis
To read this article on Zacks.com click here.