Anntaylor Boss Loses Job To Slumping Sales

AnnTaylor Stores Corp. said Sally Frame Kasaks quit as chairwoman and chief executive, following a long slump in sales as she strayed from the retailer’s tradition of classic-styled shirts and suits.

It’s more likely the 52-year-old Kasaks was forced out at New York-based retailer, analysts said, because women shunned her selections of hip styles such as black leather jackets and brightly colored T-shirts.

The missteps resulted in 14 straight months of declining sales and losses or lower profits in five of the past six quarters.

“She tried numerous strategies and none of them worked,” said Kirk Palmer, whose executive search firm specializes in retailing.

Kasaks, who couldn’t be reached for comment, will be replaced by J. Patrick Spainhour, who joined AnnTaylor six months ago as president and chief operating officer. The 45-year-old Spainhour, a highly regarded operations executive, was chief financial officer at fashion designer Donna Karan International Inc.