USA: Ann Taylor Posts Loss, Names Krill As CEO
Women's clothing chain Ann Taylor Stores Corp has posted a fourth-quarter loss as well as announcing that president Kay Krill has taken on the additional role of chief executive.
Fourth-quarter loss totalled $12.5 million compared to income of $31.8m in 2003 due to charges from severance packages and rent expense.
Quarterly sales increased 8.6 per cent to $487.3m from $448.7m in 2003, with sales at the Ann Taylor Loft division seeing growth to $217.2m from $171.8m last year.
The company said Krill would become chief executive in October as part of the company's senior management transition plan.
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