On Saturday, Ann Taylor pulled up stakes at the Mall of Acadiana. “We have a brand new retailer that is going to require at least 14,000 square feet of space, and we need the location,” says Brian Lutz, regional marketing specialist for CBL & Associates Properties, the mall’s owner. “In negotiating with Ann Taylor, instead of relocating, they decided to pull out.”
Lutz declined to name the new retailer. “They’re still going over the fine print, and the deal is not fully executed yet, so I cannot release the name,” he says.
The mall representative says he isn’t authorized to discuss the sales performance of the Ann Taylor store, which was housed in the Macy’s wing across from Banana Republic.
A message left at Ann Taylor’s corporate headquarters in New York was not immediately returned. It remains unclear whether the company will reopen the store at a new site in Lafayette.
Like most national retailers, Ann Taylor Stores Corp., which has an Ann Taylor LOFT store on Camellia Boulevard in River Ranch, is experiencing a decline in sales. On March 12 the company reported that net sales for fiscal year 2009 were $1.8 billion, compared with net sales of $2.2 billion in 2008. Sales at Ann Taylor were $456.6 million in 2009, compared with $689.2 million in 2008. At LOFT, net sales were $939.9 million in 2009, versus $1.09 billion in 2008.
Comparable store sales for fiscal 2009 fell 17.8 percent, with a 30 percent decline at Ann Taylor and a 12.7 drop at LOFT. The company, which also has factory stores, last year opened nine LOFTs, one Ann Taylor Factory store and four LOFT Outlets. It closed 18 Ann Taylors, 24 LOFTs and converted 11 Ann Taylors to LOFT. The total store count at the end of the fiscal year was 907.
Lutz was willing to comment on the Mall of Acadiana’s performance, noting that it ranks among the top performers at CBL’s 88 malls. For that reason, CBL is reinvesting in the south Lafayette property. A major re-merchandising of the mall will be taking place over the next nine months, he says. Already, Baby Gap moved from the food court area to the old Kirkland’s spot in the Macy’s wing.
The Houston firm said Friday in its weekly report that 1,575 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,776 active rigs.
It will be next month before Gov. Bobby Jindal will likely get a chance to change the membership of a South Louisiana flood board that is suing dozens of oil, gas and pipeline companies.
Newly established honor recognizes outstanding local attorneys; Neuner and McGoffin win President's Award; and Blanchard named Outstanding Young Lawyer.
Daily paper constructing new digs near production plant on Rieger Road at Siegen Lane, near I-10.
Investigation finds Arnaud’s Furniture, Carroll Building Specialties and Crazy Charlie’s Shoes running misleading going-out-of-business sales.
Critics say workers and retirees are being held responsible for the Jindal administration's mismanagement of their program.
Potenza Marketing makes fastest-growing companies list.
Local 101 class Friday
“Byzantine” is the word members of the nominating committee for the local flood protection authority often use to describe the complicated, multi-layered matrix of qualifications that must be met to fill a vacancy on that board.
In the Pelican State, Benjamin Franklin buys you about $109 worth of stuff.
Brittan Bush joins Liskow & Lewis, Blake David installed as the Third District Member of the Louisiana State Bar Association’s board of governors, and Simien & Miniex announces 2014 scholarship winners.
“In some cases, we’ve found that these parts are nothing more than used junk yard parts. In others, we’ve found them to be foreign knock-off parts of questionable quality.”
The old Daily Advertiser building on Jefferson Street is being rehabbed as the owner prepares to move it back into commerce.
Its fourth leader gone after two years on the job, the facility struggles to balance the tension between its two missions.
Hub City Cycles hits the ground running through small-business center opportunity.
The future of the coastal loss lawsuit could rest in hands of board’s nominating committee.
Leaders from the local tech community ponder the question: What's missing from Acadiana's tech ecosystem?
AT&T’s U-verse heads our way. Here’s what it means for you.
LITE’s virtual environments are changing the way local employees learn how to do their jobs.
Local tech gurus will go the distance to call Lafayette home.
A look at recent hires, promotions and other news from Acadiana's business community.
New Johnston Street eatery catapults to No. 1 spot in nearly 200-location chain.
By identifying companies that match the output of its post-secondary educational institutions, Lafayette is creating opportunities that keep highly trained graduates in the area.
Gideon’s Promise lauds G. Paul Marx’s work to improve the quality of indigent defense and helps train five new public defenders.
What will INNOV8 4.0 look like?