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Market Update : 
Ann Taylor Stores Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 3:23 PM ET December 11 2008


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Michelle Tan - Goldman Sachs

How big – do you know roughly how big the in-transit number is?

Michael J. Nicholson

Okay. We don’t provide a specific guidance on that.

Michelle Tan - Goldman Sachs

All right. Great. Thanks for the clarification.

Michael J. Nicholson

Sure.

Operator

Your next question is from Jeff Black with Barclays Capital.

Jeff Black - Barclays Capital

Hey Mike, pardon me if I missed it but can you outline or just remind us of what the cost component of the restructuring program is for ’09? And did you give us an operating cash number? And if not, could you? Thanks.

Michael J. Nicholson

For 2009, Jeff?

Jeff Black - Barclays Capital

Well, no, for the quarter. The operating cash number and then the cost component of the program, you know. Are we to assume there’s another $30 million in cost for ’09 for --

Michael J. Nicholson

Yes. Yes. Okay so just real quick in terms of the total program, we are looking at total program costs in the range of $65 to $70 million. As you know in 2007, we recorded approximately $32 million worth of costs. In 2008, we’re anticipating about $30 million of costs in total. So we’re left with $5 to $10 to go as it relates to the way we’re thinking about the current program.

Jeff Black - Barclays Capital

And Mike, are you thinking you cut into the store base more? Is there another leg of this you might pursue?


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