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Ann Taylor's Wardrobe Shuffle
By Dave Marino-Nachison
March 18, 2005

Shares of women's-apparel retailer Ann Taylor Stores (NYSE: ANN) rose nearly 5% in yesterday's session on news that the company's fiscal Q4 (ended Jan. 29) financial results met Wall Street estimates and Q1 guidance beat the forecasts. Trading volume for Ann Taylor was more than three times its recent daily average.

Investors were also putting their stamp of approval on the company's plans for management succession. Kay Krill, who's been with the company since 1994 and was named president in November, will become Ann Taylor's new chief executive officer. She'll replace Charlie Spainhour in October after what will presumably be a smooth and mutually beneficial transition period. In the meantime, the company says, it will start looking for someone to play chief operating officer...
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