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Stock of the day

Ann Taylor (ANN)
AnnTaylor Stores Corporation, a women's clothing chain, reported a $2.1 million third quarter profit today. This news may sound relatively run-of-the-mill on the surface, but it is particularly exciting for investors considering that Ann Taylor posted a $13.4 million loss just a year ago. The retail sector in general has been rather stagnant because of the slumping economy. Consumers seem to be tightening their budgets and cutting back on leisure expenses. Women, especially ones with families, tend to be more inclined to make family purchases before personal ones. Even with all these obstacles in play, how was Ann Taylor able to generate a profit? Read more

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On This Date

November 20, 1998:

46 U.S. states reached an agreement Friday with leading tobacco companies that calls for cigarette makers to pay the states $206 billion and submit to sweeping advertising and marketing restrictions. The amount of the payment makes it t