* Two stores to open fall 2012
* Outlets will be in Toronto
May 24 (Reuters) – U.S. women’s apparel retailer Ann Inc
said on Thursday it plans to open two of its Ann Taylor
stores in Toronto in the fall of 2012.
The new outlets will be Ann’s first outside the United
States, and the company said the Canadian initiative is a first
step in boosting its “global presence”.
“We are pleased by the strong awareness Ann Taylor already
enjoys in Canada,” Ann Taylor Brand President Brian Lynch said
in a statement.
Ann Taylor joins a growing number of U.S. retailers heading
to Canada, lured by a comparatively resilient economy, a strong
currency and shoppers that are often already familiar with their
brands thanks to U.S. media.
Specialty clothing retailer Express Inc opened its
first Canadian store last fall. Home improvement chain Lowe’s
Cos Inc is looking to expand in the country, and Target
Corp looks set to shake up the market when it opens its
first outlets in Canada next March or April.
New York-based Ann reported quarterly earnings that topped
analyst expectations last week, and said it would scale back
discounting at Ann Taylor to boost profitability.
