Exhibit 99.1
ANNTAYLOR
NEWS RELEASE
142 WEST 57th STREET NEW YORK, N.Y. 10019
ANN TAYLOR ANNOUNCES A THREE FOR TWO STOCK SPLIT
New York, New York, April 29, 2004 – AnnTaylor Stores Corporation (NYSE: ANN) announced today that its Board of Directors approved a 3-for-2 stock split of the Company’s Common Stock in the form of a stock dividend. One additional share of Common Stock for every two shares owned will be distributed on or about May 26, 2004 to stockholders of record at the close of business on May 11, 2004. The stock split will result in a 50 percent increase in the number of shares of Common Stock outstanding as of the record date, with cash being paid in lieu of fractional shares.
Ann Taylor is one of the country’s leading women’s specialty retailers, operating 656 stores in 43 states, the District of Columbia and Puerto Rico, and also an Online Store atwww.anntaylor.com.
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FORWARD-LOOKING STATEMENTS
Certain statements in this press release are Forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements may use the words “expect”, “anticipate”, “plan”, “intend”, “project”, “believe” and similar expressions. These forward-looking statements reflect the Company’s current expectations concerning future events and actual results may differ materially from current expectations or historical results. Any such forward-looking statements are subject to various risks and uncertainties, including failure by the Company to predict accurately client fashion preferences; decline in the demand for merchandise offered by the Company; competitive influences; changes in levels of store traffic or consumer spending habits; effectiveness of the Company’s brand awareness and marketing programs; general economic conditions or a downturn in the retail industry; the inability of the Company to locate new store sites or negotiate favorable lease terms for additional stores or for the expansion of existing stores; lack of sufficient consumer interest in the Company’s Online Store(s); a significant change in the regulatory environment applicable to the Company’s business; risks associated with the possible inability of the Company, particularly through its sourcing and logistics functions, to operate within production and delivery constraints; the impact of quotas, and the elimination thereof; an increase in the rate of import duties or export quotas with respect to the Company’s merchandise; financial or political instability in any of the countries in which the Company’s goods are manufactured; the potential impact of health concerns relating to severe infectious diseases, particularly on manufacturing operations of the Company’s vendors in Asia and elsewhere; acts of war or terrorism in the United States or worldwide; work stoppages, slowdowns or strikes; the inability of the Company to hire, retain and train key personnel, and other factors set forth in the Company’s filings with the SEC. The Company does not assume any obligation to update or revise any forward-looking statements at any time for any reason.
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Contact:
Jim Smith
Chief Financial Officer
(212) 541-3547
