AnnTaylor to Save $125M
New York–based AnnTaylor Stores Corp. plans to trim $125 million from its operating costs over the next three years, thanks to a multi-year restructuring effort set to end in fiscal year 2010. Among the initiatives: streamlining corporate and divisional organization as well as field staffing, expanding the company’s non-merchandise procurement initiative, and optimizing the company’s real estate portfolio. The company previously anticipated its cost savings to top out at $95 million.
