Ann Taylor Stores records positive sales and traffic momentum in February due to expanded e-mail list enhancement, search engine optimization and growing social media presence, according to President and CEO Kay Krill.
"We are encouraged that our positive sales and traffice momenturn continued into the month of February," says Krill, "indicating that our earlier initiatives to expand our e-mail list, enhance our search ability on the Web, and increase our presence on social media sites are gaining traction. To support our future growth, we are investing in a more robust marketing plan in 2010 and in a new technology platform that we'll luanch this summer."
Technology is also key to the fashion retailers momentum at improving margins, according to Mich Nicholoson, EVP, CFO and Treasurer, who says, "We are focused on improving margins from a merchandising, technology and sourcing perspective. And we believe improvement in these areas is a critical component ot the overall profit growth strategy for the business."
Gross profit margin was up 52.5% in the last quarter for the chain, which saw a return to full-priced buying and rising comp store sales. It ended the quarter with $200 million in cash and no outstanding debt.