 
AnnTaylor Stores Corp., a popular women”™s apparel retailer, will close 30 additional stores through a corporate restructuring program, which began in November 2008. It is expected to be completed in 2010.
There are 193 total store closings, including the 30 announced Thursday.
Approximately 160 jobs will be eliminated, namely corporate, divisional or organizational, spokeswoman Wendi Kopsick said, in addition to 440 previously cut.
“The company has not published a list of stores to close,” she said of Westchester, Hudson Valley and Fairfield County locations. “It”™s over a three-year period, so stores are being notified on a rolling schedule.”
Kopsick said the store closings will be about half AnnTaylor and half Ann Taylor LOFT.
Based on the restructuring, the company now expects to “generate ongoing annualized savings totaling approximately $125 million” over the three years.
“Since we began our strategic restructuring program in January 2008, our goal has been to build a more effective and efficient operational foundation that supports future growth and improved profitability over the long term,” said Kay Krill, president and CEO. “In light of the current environment and encouraged by the process improvements and efficiencies we have achieved to-date, we have now identified additional opportunities to further reduce our SG&A cost structure, while improving our efficiency and profitability. These additional steps are expected to generate approximately $30 million in incremental annualized savings over our previous range. At the same time, we continue to be focused on delivering compelling product and exceptional value to our clients.”
Ann Taylor Stores Corp. operates 939 Ann Taylor, LOFT, Ann Taylor Factory, and LOFT Outlet stores in 46 states, the District of Columbia and Puerto Rico.
