| Research Notes: Nov 15, 2011 – ANN |
StoreIntel |
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Ann Taylor (ANN)
- The new concept of both The LOFT and Ann Taylor are outstanding. From a structural point of view, the product is easily accessible and without question portrays one of the best lifestyle presentations in the missy space.
- The LOFT has clearly carved out a value equation for the brand.
- Currently, all tops are BOGO at 50% off which seems to be driving traffic. Our observations mid-afternoon at four locations in the metro NYC area clearly showed this store to be the busiest in the missy specialty space.
- Well priced everyday value cut and sewn tops at $29-$39 were well merchandised to drive multiple sales.
- All casual bottoms in either denim, cord or washed twill were value priced at $59.
- Special pieces for Holiday which included tops with all-over sequins, boiled wool novelty crop jackets, sweater shawls in stripes, tri-blend sweaters with lurex detail and sweater dresses were all in the price range of $79-$98.
- The layout for core Ann Taylor was a striking difference from seasons past, as lifestyle is clearly the message.
- A significant and absolutely clear delineation between the brands with core Ann Taylor truly projecting affordable luxury.
- Fashion touches abound in the core Ann Taylor with sequins, faux fur and lace just to name a few.
- All items were marked down 30% off for this week.
- Traditional career suitings which used to be Ann Taylor’s calling card are finally put in the back of the store but done so with a nice mix of some fun pieces.
- Without question we will follow this story closely because we believe they are the best looking concept in the missy specialty space to date.
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DISCLOSURES
Analyst Certification:
The research analyst who is primarily responsible for the research reports in this publication has certified that the views expressed therein accurately reflect the analyst’s personal views about the subject companies and their securities. No part of the analyst’s compensation was, is, or will be directly related to any specific recommendations or views contained in the research report.
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The following disclosures are made pursuant to FINRA Rule 2711. “Research analyst” in the disclosures below refers to the associated person who is principally responsible for, and any associated person who reports directly or indirectly to such a research analyst, in connection with, the preparation of the substance of a research report, whether or not such person has the job title of “research analyst.”
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The analyses and data presented in this report are based on information obtained from third parties and although we believe the information to be current and accurate, we make no representation about the accuracy or completeness of this information. This report should not be the only source of information used to make investment decisions. RS has no reason to believe any of the information obtained from third parties is material non-public or that the source of information has any duty to maintain the information in confidence. RS accepts no responsibility for any loss or damage suffered by any person or entity as a result of any such person or entity’s reliance on the information presented in this report or email. Opinions and estimates expressed herein constitute judgments as of the date appearing on the report and are subject to change without notice. This report is solely for informational purposes and should not to be construed as an offer to buy or sell securities and is not intended to provide investment advice or to recommend the purchase or sale of any security by a particular investor.
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