...Audit a. External Forces b. Customer Trends c. Porters Five Forces d. Competition SWOT Analysis Size ANNspansion Ann Goes Technical Financials a. Sales Forecast b. Net Income c. Inventory Turnover 3 Final Report I. Executive Summary Ann Taylor was founded in 1954, when Richard Liebeskind opened his first shop called Ann Taylor. Back then Ann Taylor represented a best- selling dress style that had been gifted to the store owner by his father. The company began its story in the retail industry by opening up stores in which their designs embodied the well-dressed woman. By 1983 Ann Taylor had grown from a regional brand to a national brand with 47 stores across the United States. Today Ann is represented by two brands, with multiple channels of distribution. They operate 907 Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores in 46 states along with e-commerce websites anntaylor.com and LOFT.com. They rely on a large base of third-party producers and distributors. Ann Taylor is now a one-stop shop for high quality and fashion-forward women’s apparel, accessories, and footwear. Though Ann Inc. has a strong brand recognition in the women’s retail industry, it faces threats that they must overcome in order to continue their success. Ann Inc. competitors are companies such as Talbots and Coldwater Creek as well as smaller high end women’s stores. Ann Taylor has the opportunity to take advantage of the recent increase in women’s weight. This is something our competitors...
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...ALTERNATIVE SOLUTIONS TO PROBLEMS /ISSUES………………………………Page 15 RECOMMENDED COURSE OF ACTION/JUSTIFICATION…………………………..Page 17 IMPLEMENTATION PLAN………………………………….…………………………..Page 18 MAJOR PROBLEMS OR ISSUES Ann Taylor (NYSE ticker = ANN) was founded in 1954 based upon the corporate mantra of providing professional, yet fashion conscious, business women access to quality, yet affordable, attire. During the last fifty-four years Ann Taylor has become very well known for its offerings, especially “the classic basic black dress and women’s power suit”, and has maintained itself as a leader and innovator within the specialty retail sector. Ann Taylor’s strategic management has maintained its comparative advantage by successfully and accurately predicting client fashion preferences and meeting these preferences through three, diversified, retail divisions (AT, LOFT and FACTORY). The instigation of each division was an effort to meet the broader specialty retail challenge that accompany changing consumer demographics, buyer habits and apparel expectations associated with the professional environment, while also maintaining brand longevity and product differentiation. Nevertheless, efforts to meet changing consumer preferences have resulted in the potential issue of minimizing Ann Taylor’s signature brand (AT Division) and cannibalization from other company offerings, especially from the more casual focused LOFT...
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...ASSIGNMENT: CASE 1 TITLE/ CASE Ann Taylor OVERVIEW Ann Taylor was founded in 1954 as a wardrobe home for busy, socially upscale women by Robert Liebeskind. Its first stand-alone clothing store was started in New Haven, Connecticut. Ann Taylor was never a real person; it was a brand identity or a personality within the retail clothing industry. Kay Krill, the current president/CEO, has been the leader of the company since 2004 and has faced many issues and challenges with the ANN legacy as a women’s specialty clothing retailer. PROBLEM The 2008 economic downturn had a profound effect on the retail industry as a whole. One industry group estimated that over 6,000 retail stores had closed in 2008 which was a 25% increase from the previous year. Macroeconomic conditions were worsening and the entire retail environment was threatened by less consumer demand. • Also, Ann Taylor was a women’s specialty retailing store which engaged in retailing a specific line of women’s clothing. This single product focus includes a high risk for the company, because any loss in sales could not be recovered in another product area. • Ann Taylor over the course of a few years had many different store concepts underneath the one defining Ann Taylor brand. At one point in its history the company had five separate store concepts. Cannibalization between the brands was disrupting overall sales volume. There was too much going on at the same time and analysts...
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... | |Strategic Management 21705 | |Summer 2014/2015 | | | | | |Individual Report on the | |Ann Taylor Case Analysis | |Survival in Speciality Retail | | | |[pic] | | | |...
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... a. The Company’s mission and goals ANN associates are committed to and driven by a simple but profound mission – to inspire and connect with our clients to put their best selves forward every day. ANN always try to respond to the customer with “wardrobing” such as a philosophy of “outfitting from head to toe”, combining relaxed everyday wear with more dressy pieces. b. Concentration on a Single Industry When Ann Taylor was founded in 1954 as a wardrobe source for busy, socially upscale women, the company has focused on retail industry till now. Ann Taylor has a 60-year history and gathers rich experience to know how to design clothing to meet the changing needs of customers, so it is wise for Ann Taylor to adapt this strategy to concentrate on doing what it knows best and avoid entering new businesses where it can just create little value. As is known to us, the competition in the retail industry is intensive and the market changes rapidly with the changes of customer needs and behavior. Concentrating on a single industry enables Ann Taylor not only to focus all its financial, marketing, and functional resources and capabilities on the company’s main business to increase its scales of economy and grab market share but also to focus on its competitive advantages to raise its long-term profits. However, Ann Taylor is a women’s specialty retailer and this kind of single-product focus increases risk. By realizing this problem, Ann Taylor has expanded its product catalog and...
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...Ann Taylor’s main challenge is to remain relevant in a market where fads and new options are constantly threatening to steal market share away from them. High-end and low-end brands such as Gucci and TJ Maxx respectively are offering specialized goods to cost aware consumers. To position themselves effectively, Ann Taylor must remain true to their original image as an upscale retailer of professional lades while still offering clothing at a price that consumers are willing to pay. One possible alternative for Ann Taylor is to continue what they are doing as an integration approach leader. Since consumers could buy cheaper alternatives at bargain outlets, the integration strategy allows Ann Taylor to loosely compete in price while keeping a strong focus on high quality products. They can continue to invest in developing their Loft and Factory Brands in outlet settings to appeal to as broad a base as possible. This is a great alternative to their problem because they can offer their various brands to as many people as possible while still competing on price because they can offer quality clothing at a lower cost. One downside to this approach is the threat of more affordable substitutes. Another possible alternative for Ann Taylor would be to adopt more of a focused strategy approach. They already excel at offering numerous fashion solutions for nearly ever lifestyle. With this approach, I suggest that they eliminate their low cost brands, raise prices and offer a more...
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...Ann Taylor (based on an earlier version of the case) 1. Consider the performance of A nn Taylor. How well is the present strategy working? Ann Taylor compared to the industry: I n fiscal year 2005, Ann Taylor was number six in the Women’s Wear Daily’s top twenty of the publicly traded retailers specializing in women 's wear. ANN maintained this position from the previou s fiscal year 2004. Ann Taylor compared to key rivals: Several retailers that target the same or similar demographic of the 35-year old woman include Talbots, Chico's, and Coldwater Creek. Talbots maintained its number seven position with $1.81 billion in sales, and a seven percent increase in volume over the previou s year. Coldwater Creek also maintained its number 18 position with $780 million in sales and a staggering 32 percent increase in volume. Chico's moved up three positions from number nine to 12, also with a 32 percent increase in volume, and $1.4 billion in sales. ANN saw a 12 percent increase in volume over the previou s year and had sales of $2.07 billion. ANN is maintaining its position in the standings, but with a 32 percent growth rate, Chico's may be an even greater threat to ANN in the years to come. Ann Taylor's past performance: Ann Taylor has seen some up years and some down years, but overall seems to be growing each year. In fiscal year 2002, the company as a whole (Ann Taylor and LOFT) experienced a negative sales percentage of 3.9%, but in 2003, they achieved...
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...Ann Taylor Stores Corporation International Management Project Management 4900 – International Management and Globalization Executive Summary As an opportunity to apply concepts of international management, the following analysis evaluates issues and provides recommendations for the Ann Taylor Corporation. The retail apparel industry as a whole has rapid business cycles because fashion and consumer tastes changing constantly. The already fiercely competition for market share is amplified by the declining economy. Like many apparel companies, Ann Taylor creates the designs and outsources the manufacturing process. Ann Taylor sells women’s apparel and accessories and targets affluent career-minded women. One of the company’s strengths is brand equity. Every aspect of the Ann Taylor brand supports corporate social responsibility. Any association with a supplier or manufacturer that doesn’t support CSR and environmental sustainability will tarnish the Ann Taylor brand and risk losing brand loyal customers. With dependency on over 150 suppliers around the globe, communication and culture awareness is required of all Ann Taylor management. Lack of culture understanding will put business partnerships at risk. Although Ann Taylor doesn’t have ownership rights in China, understanding what drives and motivates Chinese workers will help Ann Taylor management collaborating more effectively with the managers of the outsourced manufacturing located in China. The need for strategic...
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...Established in 1956 by Robert Liebeskind, Ann Taylor, an upscale woman’s clothier began operation in New Harford Connecticut. Ann Taylor was established to cater to working women who wanted style and class to be their trademark. Ann Taylor or ANN is in the retail clothing industry. According to the ANN website, their purpose is to, “inspire and connect with women who put their best selves’ forward each day.” (Ann Taylor) Kay Krill, CEO of Ann Taylor states on their website that, “At ANN Inc. we share a profound commitment to our clients. For more than half a century, we have evolved with the needs of real women, who live full active lives. Our values are her values. We understand that a woman expresses herself by what she wears- at work, at home and at play.” (Ann Taylor) Ann Taylor has grown to encompass the markets of both work and leisure clothing for a discerning customer. Porter’s Five Forces, states that there are five issues that affect the strength and viability of a business, the model developed by Michael Porter, identifies and analyzes five competitive forces that shape every industry, and helps determine an industry's weaknesses and strengths. The five forces are: 1. Competition in the industry 2. Potential of new entrants into industry 3. Power of suppliers 4. Power of customers 5. Threat of substitute products The key issues in the competitive environment that affect ANN and its rivals are the threat of substitute products. The retail clothing industry...
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...Journal Volume 5, Issue 2 (Spring 2009) Ann Taylor: Survival in Specialty Retail Pauline Assenza Manhattanville College Alan B. Eisner Lubin School of Business, Pace University Jerome C. Kuperman Minnesota State University Moorhead In the summer of 2008, headlines announced that the declining economy was generating a “wave of retail closures” among many well-known companies, including Home Depot, Pier 1 Imports, Zales, Gap, Talbots, Lane Bryant, and Ann Taylor. The Chief Executive of J.C. Penney’s called the 2008 situation “the most unpredictable environment in his 39-year retail career”. i One industry group forecasted that nearly 6,000 retail stores would close in 2008, a 25 percent increase from the previous year. A representative from the National Retail Federation (NRF) suggested that these businesses should “look at where they’re underperforming and how can they change their operations so that they have a little bit more power in another area, or a little bit more growth potential.” ii Kay Krill, President and CEO of Ann Taylor Stores Corporation (ANN), was already considering this advice. Krill had been appointed President of ANN in late 2004, and succeeded to President/CEO in late 2005 when J. Patrick Spainhour retired after eight years as CEO. At that time, there had been concern among commentators and customers that the Ann Taylor look was getting “stodgy”, and the question was how to “reestablish Ann Taylor as the preeminent brand for beautiful,...
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...(In editing process). The idea that people must rely on others is conveyed through the relationship between Taylor and Lou Ann. This is because whenever Lou Ann tells Taylor about her insecurities and opinions, Taylor is quick to settle them. For example, when Lou Ann tells Taylor about her first job interview, where the interviewer talks to her breasts instead of her face, Lou Ann says she felt uncomfortable and exploited. She then goes on to tell Taylor about Fanny Heaven, a strip joint in town. She describes how disgraceful it is to women such as a door handle right in the middle of a mural of a woman when she quotes, “That door’s what gets me. The way they made the door handle. Like a woman is something you shove on and walk right through....
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...This novel portrays this theme very well from the setting to the character’s thoughts. The novel takes place in a very quiet town, with ,the main character, Taylor. Taylor’s home isn’t really a “home” at all; it is full of depressing things and many deplorable problems. Throughout the story, Taylor deals with many issues but stays strong through the chaos. One important lesson readers can learn from Laurel Lindt’s The SkiBoarder is whatever happens, you can’t give up. One example of this was when Taylor fights with her mom and won’t accept that she has Schizophrenia. This scene shows how Taylor...
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... } RequestProcessor processor = new RequestProcessor(collection); int numberOfThreads = 5; Thread[] threads = new Thread[numberOfThreads]; for (int index = 0; index < threads.length; index++) { threads[index] = new Thread(processor); threads[index].start(); } try { for (int index = 0; index < threads.length; index++) { threads[index].join(); } } catch(InterruptedException ie) { ie.printStackTrace(); } ThreadStatisticsSetup.print(); } One possible output is: Tabulator: 1 Count 1137 for candidate Bill O'Reilly=20.695303967965053% Tabulator: 1 Count 1077 for candidate Ann Coulter=19.603203494721516% Tabulator: 1 Count 1090 for candidate Rachel Maddow=19.839825263924283% Tabulator: 1 Count 1094 for...
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...Introduction to Philosophy American Intercontinental University Philosophy ABSTRACT Throughout life, we deal with many day-to-day situations. Some come in forms of Mere Assertions, Circular Reasoning’s and Ad Hominem to name a few. If you ever knew what these terms mean. I will give a brief description and example of these meanings. There are nine different types of segmentations in philosophy that are used in the world today. The different segmentations are mere assertions, circular reasoning’s, ad hominem, red herring, pseudo questions, false cause, sweeping generalization, slippery slope and equivocation or changing meanings. These different segments play an essential role in our day-to-day environment. For instance, if you read in the newspaper that a crime was committed, that is an example of mere assertions. In society today, this phrase is heard repeatedly, “You do the crime, you pay the time.” This means that if you commit a crime you, will be punished to the extent of law. In some Middle Eastern countries, they cut your hand off for stealing. In the other parts of the world including the United States, you are innocent until proven guilty. They have to prove with a reasonable doubt that the individual committed the crime. This means that they have to provide evidence to the court showing that beyond a reasonable doubt that the individual was guilty of the crime. This is an example of mere assertions, if someone commits a crime you must have the...
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...In today’s society, the majority of the public receives its news from networks putting forth mass media broadcasts. Many of these news stories attempt to summarize published research studies; however, people need to understand that all of the information they receive from news networks are not always accurate and truthful. The article “Study says person's trustworthiness determined by how close photo is taken,” published by Fox News on October 25th, 2012, is an example of how a news network can present a story that is bias, and lacks information. The study, “Perspective Distortion from Interpersonal Distance Is an Implicit Visual Cue for Social Judgments of Faces,” conducted by the California Institute of Technology (Caltech), tested whether or not a person’s trustworthiness is affected by how close their photo was taken. The study consisted of four experiments testing multiple audiences on various photos of white males. Each experiment had two pictures for the test participants to analyze; one picture was a man’s face from two feet away, the other being seven feet away. The subjects then rated the man’s trustworthiness by using the “trust meter” they received. For example, the mean trust investment difference in experiment one was 3.2 > 2.45 (far face - close face). The other three experiments had similar results, supporting the claim that the closer someone’s picture was taken, the less trustworthy that person will look in that individual picture (Bryan, Perona, & Adolphs...
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