Ann Taylor Hires Exec From Liz Claiborne
Liz Claiborne Inc.'s Kim Roy resigned as group president in charge of the clothing company’s namesake brand and other product lines and will join Ann Taylor Stores Corp. as president of the Ann Taylor division, effective May 29. Roy, 42, will report directly to Chief Executive J. Patrick Spainhour. Roy, who had been with Liz Claiborne for six years, helped expand sales at that company’s special-markets business to as much as $500 million from $125 million, said Wells Fargo Van Kasper analyst Jennifer Black, who has a “market perform” rating on the shares of Ann Taylor and a “strong buy” rating on Liz Claiborne. The special-markets business at Liz Claiborne includes Villager clothing sold at Kohl’s Corp. stores and Crazy Horse garments sold at J.C. Penney Co. stores. On the NYSE, shares of New York-based Ann Taylor rose $2.75 to close at $30, while shares of Liz Claiborne, also based in New York, fell 85 cents to close at $48.31.