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Is Ann Taylor the New Old J.Crew?

Last night, on their Q2 earnings call, CEO Mickey Drexler reiterated what he said last quarter which is basically, “Chill out, we hear you.” Ok, in his words, it was, “Our core heritage businesses are taking up a bigger percent of our investments, and our high-end fashion, a lesser percent of investment, and lesser percent of perception.” From a business perspective, the brand obviously needs to make a change. Ann Taylor’s chic basics can fill the J.Crew shaped hole in anyone’s heart.