Ann Taylor Is Making Four Big Changes To Its Brand

Ann Taylor

Photo: Ann Taylor

Ann Taylor blamed lower sales and too many promotions for its 73 per cent drop in Q4 earnings on Friday.The flagship brand is responsible for the losses, whereas its LOFT division — which targets younger, trendier consumers — is doing just fine.

To offset these losses, CEO Kay Krill told investors that the company plans to make four major changes (via WSJ):

More affordable initial prices will be offered, assortments will feature more colours, greater depth in key fashion lines will be available and customer service will be stepped up.”

Ann Taylor has been working on its image for a while, promoting longtime Ann Taylor VP Brian Lynch to brand president in February to launch a turnaround. It’s also been focusing on reaching younger consumers overall and revamping its e-commerce site.

The problem of too many big promotions is something companies like JC Penney have faced for a while, which is why it recently launched a new pricing strategy.

Now read about why investors called Ann Taylor’s LOFT the fastest-growing brand in America >

NOW WATCH: Ideas videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.