As Pink opens, Ann Taylor, Coldwater Creek are closing

Published: Wednesday, April 30, 2014 at 4:16 p.m.
Last Modified: Wednesday, April 30, 2014 at 4:16 p.m.

Ann Taylor will close its women’s clothing store in The Oaks Mall on May 17, an employee confirmed, following Coldwater Creek’s announcement that it plans to close all its stores.

Further questions about Ann Taylor were referred to the corporate office. Spokesperson Shawn Buchanan said the company does not comment on individual store openings and closings, “which are a natural and ongoing function of doing business in retail.”

Loft, also owned by Ann Inc., will remain open at the mall, according to an employee at that store.

Ann Inc. reported plans in its annual earnings report to open 50 new stores and close approximately 30 stores this year. The company reported net sales of $2.5 billion for 2013 compared to $2.4 billion in 2012, with comparable store sales up 1.1 percent at Ann Taylor stores.

Coldwater Creek has not fared as well. The company filed for Chapter 11 liquidation bankruptcy protection on April 11 and received bankruptcy court approval Tuesday to hold going-out-of-business sales at its more than 370 stores. The sales are scheduled to start by May 8 ahead of the busy Mother’s Day weekend, Bloomberg reported.

The company has debt of $361 million and reported that same-store sales declined 17 percent in the third quarter 2013.

Despite the store closings, Angie McCann, general manager at The Oaks Mall, said women’s clothing remains a strong category at the mall, including women’s departments in the anchor stores Belk, Sears, JCPenney, Macy’s and Dillards, Banana Republic, Black Market, Lane Bryant and Buckle, among others. American Eagle and Victoria’s Secret have undergone major remodeling projects and Pink, the Victoria’s Secret brand catering to college women, opens this weekend.

McCann said the mall looks at the closings as an opportunity to bring in new retailers, entertainment or dining options. The 6,300-square-foot Coldwater Creek location at the front of the mall could house one large retailer or be broken up into two or three smaller spaces.

“We’re in talks with different retailers all the time,” McCann said.

“If you look at the mall in general, the last two years we’ve opened a dozen new retailers. The next two years we’ll probably open a dozen more,” McCann said.

Reader comments posted to this article may be published in our print edition. All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.

▲ Return to Top