Company Overview Visit anntaylor.com website
In 1961, James Cash Penney invested $1 million to enable AnnTaylor to expand nationally. The company went public with a stock offering the next year. By 1969, there were 121 stores across the country and a new flagship store was opened on Fifth Avenue in New York City. In 1971 there were over 500 stores with locations as far west as Arizona and California. In 1974, James Cash Penney retired from the board of directors but continued as chairman until 1982. In 1980s Ann Taylor expanded into accessories such as handbags and eyewear, and in 1981 the company added men's clothing to their catalogs. In 1982, Sales dropped from $400 million down to $300 million. The company was losing money due to a decline in market share . In 1983, John D. Bowlin took over as president and CEO of Ann Taylor. In 1987 there were 2300 employees and more than 500 stores nationwide.
In 1989, President and CEO James T. Cash Jr., grandson of J.C Penney, announced that the company had filed for Chapter 11 bankruptcy protection for 16 of its retail ventures including Ann Taylor Stores Corp., Laundry-Craft Mart Corp., La Petite-Coquette Inc., Silver Moon Stores Inc., Bay Tree Specialties Inc. and BH&J Holding Corp. .
In 1991, Ann Taylor Stores Corporation—which now included the original company as well as its subsidiaries--benefited from an improving economy which produced strong sales throughout most of its stores.
By 1993 there were 370 stores nationwide with a revenue of $847 million. The company celebrated the opening of its first store outside North America in 1994 at Yorkdale Shopping Centre in Toronto, Ontario, Canada. In 2001, President and CEO James T Cash Jr retired and was replaced by Eva L. Gordon who had previously worked for Saks Fifth Avenue.
Ann Taylor's product line today includes career wear, casual clothing, dresses, pantsuits, men's dress shirts, suits, sweaters, outerwear, accessories such as handbags, shoes, sunglasses, underwear and fragrances. The company has 913 stores worldwide in the United States, Canada, Mexico, the Middle East and the United Arab Emirates.
Today Ann Taylor is headquartered in New York City with 686 full-price stores that include 60 clearance stores. The brand also includes over 200 outlet locations across North America.