Problem Statement
The issue facing Ann Taylor in 2014 was a fairly common one, particularly for brands that have been established for as long as this women’s clothing store magnate has been. This chain of specialty stores was initially established in 1954. As such, it had witnessed myriad changes in styles and fickle customer tastes since the midway point of the 20th century. The crux of the issue that Ann Taylor was experiencing was simple enough: it needed to change with the times without alienating its core customer base and style. Specifically, there was a conflict of sorts in the two directions that the store could have gone in at this point in time. One of these was typified by its LOFT stores, which traditionally sold casual clothes …show more content…
Prior to examining the financial data that verifies this, it is important to establish the fact that the initial Ann Taylor brand is practically opposed to the clothing and accessories found in LOFT. Ann Taylor has historically built its reputation as offering upscale clothing for professional women. Business suits and classy, elegant (and costly) black dresses embodied its look, style, and even clientele. In fact, this reality partially led to the creation of the LOFT brand, and perhaps even contributed to its ascendancy over the conventional Ann Taylor brand and style. This claim is readily even a cursory review of the financial data for Ann Taylor, particularly as it is compared to the same data for LOFT. Unlike the data for LOFT, the financial data for Ann Taylor does not reflect steady gains. There were greater yields for Ann Taylor’s stores and total brand at the end of the fiscal year in 2014 (668 and 959.8, respectively), than in 2015 (658.7 and 952.8, respectively). Still, the most notable analysis of this data is in comparing it to the respective metrics for LOFT. The total Ann Taylor brand for the end of the fiscal year 2015 is 952.8, while the total LOFT brand for that time is $1,580. The superiority of LOFT to Ann Taylor is underscored
The issue facing Ann Taylor in 2014 was a fairly common one, particularly for brands that have been established for as long as this women’s clothing store magnate has been. This chain of specialty stores was initially established in 1954. As such, it had witnessed myriad changes in styles and fickle customer tastes since the midway point of the 20th century. The crux of the issue that Ann Taylor was experiencing was simple enough: it needed to change with the times without alienating its core customer base and style. Specifically, there was a conflict of sorts in the two directions that the store could have gone in at this point in time. One of these was typified by its LOFT stores, which traditionally sold casual clothes …show more content…
Prior to examining the financial data that verifies this, it is important to establish the fact that the initial Ann Taylor brand is practically opposed to the clothing and accessories found in LOFT. Ann Taylor has historically built its reputation as offering upscale clothing for professional women. Business suits and classy, elegant (and costly) black dresses embodied its look, style, and even clientele. In fact, this reality partially led to the creation of the LOFT brand, and perhaps even contributed to its ascendancy over the conventional Ann Taylor brand and style. This claim is readily even a cursory review of the financial data for Ann Taylor, particularly as it is compared to the same data for LOFT. Unlike the data for LOFT, the financial data for Ann Taylor does not reflect steady gains. There were greater yields for Ann Taylor’s stores and total brand at the end of the fiscal year in 2014 (668 and 959.8, respectively), than in 2015 (658.7 and 952.8, respectively). Still, the most notable analysis of this data is in comparing it to the respective metrics for LOFT. The total Ann Taylor brand for the end of the fiscal year 2015 is 952.8, while the total LOFT brand for that time is $1,580. The superiority of LOFT to Ann Taylor is underscored