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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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But I feel like now it’s definitely a more holistic control of the business and they’ll be able to affect it more expediently and definitely make decisions quicker. I, for one, am losing direct reports which is a very good thing that I’ll be down to seven now. So I’m going to spend a lot of time with those division leaders and really working with them, because they are new, to really understand where we’re going so we’re all totally aligned. And I have to tell you, it’s a new day for me. I’m very excited about their leadership and what they bring to Ann Taylor as far as their experience. We’re all in a very strong learning pattern right now and I think that we’re all operating as a very solid tight team.

Operator

Your last question is from Lorraine Maikis with Merrill Lynch.

Lorraine Maikis - Merrill Lynch

Thank you. Good morning. Can you just update us on some of your ancillary initiatives like maternity at Loft and collection and beauty at Ann? And then if you have any strategic shifts given the environment for those businesses.

Katherine Lawther Krill

Definitely we are on hold with beauty right now. We’re really not focusing on that as you can imagine. It was less than 1% of the business at Ann Taylor, so that’s really on hold. We’re focusing on the greater categories. Celebrations we still have in the stores and we’ll focus on that online and we’re actually trying to come up with a growth plan for that, because we still think that’s very viable. And we are phasing out of maternity in Loft as of spring ’09.

Lorraine Maikis - Merrill Lynch

And then the Ann Taylor collection business?

Katherine Lawther Krill

That really fell into as far as this quarter, going into fourth quarter that really fell into our good, better, best strategy within Ann Taylor. We still have the better aspect of the assortment that’s really allocated to the stores that really need it; the high profile, more flagship stores; upscale locations. So it’s still part of the assortment, it’s just not designated as a separate business any longer.

Lorraine Maikis - Merrill Lynch

Thank you.

Operator

This ends the question-and-answer session of today’s call. We will now turn things back over to Miss Krill for any closing remarks.

Katherine Lawther Krill

Thank you all for joining us this morning and have a great day.

Operator

Thank you for participating in today’s conference. You may now disconnect.


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