Ann Taylor Expands Store Closings

Ann Taylor--which announced plans to close stores about one year ago--is now expanding its store closure plan.

The retailer said it would now close a total of 163 stores by the end of fiscal 2010. Previously, it said it would close 117 stores.

In fiscal 2009 alone, the company plans to close 37 stores as part of the restructuring initiative.

The company declined to give specific guidance for the quarter of the full 2009 fiscal year, but said it expects weakness in consumer confidence and spending will continue in 2009 and will hurt its sales in the quarter.

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