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MIRA INFORM REPORT
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Report No. : |
491664 |
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Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
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Name : |
ANNTAYLOR, INC |
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Registered Office : |
251
Little Falls Drive, Wilmington New Castle, De 19808 |
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Country : |
United States |
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Date of Incorporation : |
09.10.1986 |
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Legal Form : |
Corporation |
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Line of Business : |
Retails women's apparel,
shoes, and accessories. Its stores offer various career and casual separates,
dresses, tops, weekend wear, shoes, and accessories under the brand names Ann
Taylor and Ann Taylor Loft. The company sells its products through
traditional retail stores and over the Internet through its online store. It
also operates through online stores at www.anntaylor.com and
www.anntaylorLOFT.com. |
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No. of Employees : |
7 200 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with
a per capita GDP of $57,300. US firms are at or near the forefront in
technological advances, especially in computers, pharmaceuticals, and medical,
aerospace, and military equipment; however, their advantage has narrowed since
the end of World War II. Based on a comparison of GDP measured at purchasing
power parity conversion rates, the US economy in 2014, having stood as the
largest in the world for more than a century, slipped into second place behind
China, which has more than tripled the US growth rate for each year of the past
four decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy
shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. But the globalization of trade, and especially
the rise of low-wage producers such as China, has put additional downward
pressure on wages and upward pressure on the return to capital. Since 1975,
practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. The government used some of
these funds to purchase equity in US banks and industrial corporations, much of
which had been returned to the government by early 2011. In January 2009,
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012, the Federal Government reduced the growth of
spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and
other sources are lower, as a percentage of GDP, than those of most other
countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through 2014, the direct costs of the wars totaled
more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection
and Affordable Care Act, a health insurance reform that was designed to extend
coverage to an additional 32 million Americans by 2016, through private health
insurance for the general population and Medicaid for the impoverished. Total
spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to
17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and
Consumer Protection Act, a law designed to promote financial stability by
protecting consumers from financial abuses, ending taxpayer bailouts of
financial firms, dealing with troubled banks that are "too big to
fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In
late 2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and further reduce them as
conditions warranted; the Fed ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increases. In December 2015, the Fed raised
its target for the benchmark federal funds rate by 0.25%, the first increase
since the recession began. With US GDP growth below 2%, the Fed opted to raise
rates three times since then, and in mid-June 2017, the range for the target
rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
ANNTAYLOR, INC |
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Trade
Name: |
ANNTAYLOR, INC |
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ID: |
2104040 |
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Date
Created: |
1986 |
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Date
Incorporated: |
10/9/1986 |
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Legal
Address: |
251 Little Falls Drive Wilmington New Castle De 19808 |
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Operative
Address: |
7 Times Square Tower New York, NY 10036 United States |
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Telephone:
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212-541-3300 |
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Fax: |
212-541-3300 |
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Legal
Form: |
Corporation |
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Email: |
NA |
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Registered
in: |
DELAWARE |
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Website:
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www.anntaylor.com / ascenaretail.com / AnnTaylor.com / LOFT.com / louandgrey.com /
lanebryant.com / cacique.com / maurices.com / dressbarn.com / catherines.com,
and shopjustice.com |
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Contact: |
Gary P. Muto CEO & President |
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Staff: |
7 200 |
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Activity: |
Women's clothing industry |
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BANKS
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The company does not make its banking data
public |
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HISTORY
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The company was incorporated in
1986 and is based in New York, New York. AnnTaylor, Inc. operates as a
subsidiary of ANN INC. |
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Key
Developments: |
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Old Name Filing Number Filing
Date CAC XIII, INC. 0000976233 Sep
01, 1987 |
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AnnTaylor, Inc. Key
Developments Ann Taylor Plans to Close Its
Store at the Greene on January 21 Jan 12 17 Ann Taylor plans to close its
store at The Greene Jan. 21. The Greene lost another retailer in late
December when The Limited shut down its location at the center. While
Beavercreek center has overall fared well in a tough environment for
brick-and-mortar retail, the lifestyle center still appears to be subject to
some of the same challenges facing the industry as e-commerce puts pressure
on physical stores. |
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PRINCIPAL
ACTIVITY
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AnnTaylor, Inc. retails women's apparel, shoes, and accessories. Its stores
offer various career and casual separates, dresses, tops, weekend wear,
shoes, and accessories under the brand names Ann Taylor and Ann Taylor Loft.
The company sells its products through traditional retail stores and over the
Internet through its online store. It also operates through online stores at
www.anntaylor.com and www.anntaylorLOFT.com. |
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Products/Services description: |
Women’s apparel, shoes, and
accessories |
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Brands: |
Ann Taylor, LOFT, Lou & Grey, Lane Bryant, maurices,
dressbarn and Catherines |
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Sales are: |
Retail |
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Clients: |
LT FASHION S.A DE C.V. Mexico |
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Suppliers: |
REGENT GARMENT FACTORY LTD. Vietnam Sparrow Apparels Ltd. Bangladesh GAURAV INTERNATIONAL CLOTHING LLP India |
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Operations area: |
National and International |
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The company imports from |
India, Vietnam, Bangladesh |
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The company exports to |
Mexico |
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The subject
employs |
7 200 employees |
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Payments:
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Regular |
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LOCATION
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Headquarters
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7 Times Square Tower New York, NY 10036 United States |
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Comments: |
NA |
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Branches: |
Estimated of 6,841 branches 476 Wheelers Farms Rd Milford, CT 06461-9145
(203) 865-0811 |
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Related
Companies: |
Annco, Inc. ANN Canada Inc. AnnTaylor Retail, Inc. ANN Card Services, Inc. AnnTaylor Sourcing Far East Limited AnnTaylor Travel, Inc. Anntaylor Finance Trust AnnTaylor Distribution Services, Inc AnnTaylor Trading (Shanghai) Co., Ltd. AnnTaylor of Puerto Rico, Inc. |
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
ANN INC. 7 Times Square New York, NY 10036 United States ANN INC. operates as a subsidiary of: Ascena Retail Group, Inc. (ASNA) 933 MacArthur Boulevard Mahwah, NJ 07430 United States |
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Management: |
GARY MUTO PRESIDENT/CEO 933 MACARTHUR BOULEVARD, MAHWAH, NJ, 07430 DUANE HOLLOWAY
DIRECTOR/SVP/SECRETARY 933 MACARTHUR BOULEVARD, MAHWAH, NJ, 07430 HEATHER PLUTINO
VICE PRESIDENT/TREASURER 933 MACARTHUR BOULEVARD, MAHWAH, NJ, 07430 |
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FINANCIAL
INFORMATION
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The company does not make its financial statements
public. The following information has been provided by private sources: |
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USD 2016 |
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Estimated
Assets |
130,000,000 |
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Cash
flow |
Normal |
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We attach parent company’s FS2016. |
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LEGAL
FILINGS
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Cases |
Coach Leatherware Co., Inc. v.
AnnTaylor, Inc., 751 F. Supp. 1104 (S.D.N.Y. 1990) U.S. District Court for the Southern
District of New York - 751 F. Supp. 1104 (S.D.N.Y. 1990) November 8, 1990 UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS CIVIL ACTION NO. 13-12721-RGS MICHAEL PIETRANTONIO, on behalf
of himself and all others
similarly situated v. ANN, INC. d/b/a ANN TAYLOR,
INC., ORDER TO SUBMIT EVIDENCE FOR
COURT’S CONSIDERATION IN CONJUNCTION WITH MOTION FOR PRELIMINARY APPROVAL OF CLASS
ACTION SETTLEMENT March 10, 2014 |
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UCC |
Filing Information
Lien Number: 0002338217 Lien Type: MUNICIPAL Lapse Date: Jun
29, 2020 Filing #: 0002451292 Filing Date/Time: 8:30:00
AM Type of Filing:AMENDMENT Microfilm Volume: 00356 Start Page: 0747 Number of Pages: 1 Debtor Information
Debtor Name ANN
TAYLOR INC Street Address 1: P.O.
BOX 95727 Street Address 2: Street Address 3: City: ATLANTA State: GA Zip: 30347 Country: Secured Party Information Secured Party Name: COLLECTOR
OF TAXES CITY OF NEW HAVEN Assignor: Street Address 1: 165
CHURCH ST Street Address 2: Street Address 3: City: NEW HAVEN State: CT Zip: 06510 Filing Information
Lien Number: 0002484498 Lien Type: MUNICIPAL Lapse Date: Oct
22, 2022 Filing #: 0002634608 Filing Date/Time: 8:30:00
AM Type of Filing:AMENDMENT Microfilm Volume: 00382 Start Page: 1392 Number of Pages: 1 Debtor Information
Debtor Name ANN
TAYLOR INC Street Address 1: 176
CHERRY ST Street Address 2: Street Address 3: City: MILFORD State: CT Zip: 06460 Country: Secured Party Information Secured Party Name: TOWN
OF SOUTHBURY - TAX COLLECTOR Assignor: No Street Address 1: P
O BOX 467 Street Address 2: Street Address 3: City: SOUTHBURY State: CT Zip: 06488 Filing Information
View
Online Report Lien Number: 0002602757 Lien Type: MUNICIPAL Lapse Date: Nov
08, 2022 Filing #: 0003210641 Filing Date/Time: 3:12:58
PM Type of Filing:AMENDMENT Microfilm Volume: 00639 Start Page: 1256 Number of Pages: 1 Debtor Information
Debtor Name ANN
TAYLOR INC Street Address 1: BURR
WOLFF PL B CAMPBELL Street Address 2: 167
CHERRY ST Street Address 3: City: MILFORD State: CT Zip: 06460-3466 Country: Secured Party Information Secured Party Name: TOWN
OF WATERFORD Assignor: No Street Address 1: 15
ROPE FERRY ROAD Street Address 2: Street Address 3: City: WATERFORD State: CT Zip: 06385 Filing Information
Lien Number: 0002690916 Lien Type: MUNICIPAL Lapse Date: Apr
28, 2024 Filing #: 0002730869 Filing Date/Time: 11:41:00
AM Type of Filing: AMENDMENT Microfilm Volume: 00412 Start Page: 0651 Number of Pages: 1 Debtor Information
Debtor Name ANN
TAYLOR INC Street Address 1: 968
CHAPEL STREET Street Address 2: Street Address 3: City: NEW
HAVEN State: CT Zip: 06511 Country: Secured Party Information Secured Party Name: CITY
OF NEW HAVEN TAX OFFICE Assignor: No Street Address 1: 165
CHURCH STREET Street Address 2: Street Address 3: City: NEW
HAVEN State: CT Zip: 06510 Filing Information
Lien Number: 0002727084 Lien Type: MUNICIPAL Lapse Date: Dec
11, 2024 Filing #: 0002727084 Filing Date/Time: 8:30:00
AM Type of Filing: ORIG FIN STMT Microfilm Volume: 00410 Start Page: 3392 Number of Pages: 2 Debtor Information
Debtor Name ANN
TAYLOR INC Street Address 1: 4
EAST EXECUTIVE PARK Street Address 2: Street Address 3: City: ATLANTA State: GA Zip: 30329 Country: Secured Party Information Secured Party Name: CITY
OF NEW HAVEN TAX OFFICE Assignor: No Street Address 1: 165
CHURCH STREET Street Address 2: Street Address 3: City: NEW
HAVEN State: CT Zip: 06510 |
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OFAC Sanctions List Search |
The company is not listed
in the OFAC list. |
SUMMARY
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Founded in 1986, AnnTaylor, Inc. retails women's apparel, shoes, and accessories. Its
stores offer various career and casual separates, dresses, tops, weekend wear,
shoes, and accessories under the brand names Ann Taylor and Ann Taylor Loft. The company operates as part of
Ascena Retail Group, Inc. (ASNA)’s portfolio of
companies. It is ACTIVE in DELAWARE, with an estimated of USD
130M in assets. It mainly imports from Asia and exports to Mexico. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH
FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
Daniel |
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POSITION |
Sales |
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COMMENTS |
He confirmed address, staff,
parent company’s website and CEO’s name. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
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|
1 |
INR 89.02 |
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Euro |
1 |
INR 78.93 |
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US Dollar |
1 |
INR 64.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.