In furthering its expansion strategy to drive top-line growth and enlarge its footprint in Canada, upscale segment retailer Ann Inc. (ANN) declared the opening of its first LOFT store on the west coast of Canada. The store will be housed in The Village at Park Royal shopping mall in Vancouver.
Covering an area of 4,823 square feet, the store will be centrally located at the shopping mall. The new store will offer a full range of women’s apparel and accessories at a similar price as in its U.S stores. The store aims to offer exciting everyday fashion and evolve as the one-stop option for the women in Canada. The store is scheduled to open doors on Nov 15.
After foraying into Canada last year, the company has opened 5 LOFT stores in Ontario along with the introduction of international shipping. Excluding the latest store announcement, the company operates 525 LOFT stores throughout the U.S. and Canada.
As of Aug 3, 2013, the company operated 1,007 stores under the names of Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet stores across 47 states, the District of Columbia, Puerto Rico and Canada.
We believe the company’s strategy of expanding internationally together with improving its e-commerce capabilities will boost its top and bottom lines.
Headquartered in New York City, ANN operates as a national retailer of upscale women's clothing. Its stores offer a full range of apparel and accessories under the names Ann Taylor, Ann Taylor Studio, ATdenim, Ann Taylor Petites and LOFT. It serves customers through its traditional retail stores, online stores – anntaylor.com and LOFTonline.com – as well as via phone. The company targets college-educated women between the ages of 25 and 55, who are either professionals or employed in managerial positions.
Ann currently carries a Zacks Rank #3 (Hold). Better-performing stocks among apparel/shoe retailers include Fifth & Pacific Companies Inc. (FNP), Finish Line Inc. (FINL) and DSW Inc. (DSW). All of these carry a Zacks Rank #2 (Buy).
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment