EXHIBIT 99.1

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                                                                      ANN TAYLOR
                                                                    NEWS RELEASE
                                         142 WEST 57TH STREET NEW YORK, NY 10019


                    ANN TAYLOR ANNOUNCES MARCH SALES RESULTS
               Repurchased 380,000 Shares of Common Stock in March

         New York, New York, April 10, 2003 - AnnTaylor Stores Corporation
(NYSE: ANN) announced today that total net sales for the five week period ended
April 5, 2003 decreased 0.2 percent to $138,237,000, from total net sales of
$138,531,000 for the five week period ended April 6, 2002.

         Comparable store sales for the period decreased 8.2 percent compared to
a comparable store sales increase of 3.5 percent for the same five-week period
last year. By division, comparable store sales for fiscal March 2003 were down
9.2 percent for Ann Taylor compared to a 0.6 percent decrease last year and down
6.4 percent for Ann Taylor Loft compared to a 17.1 percent increase last year.

         Ann Taylor Chairman J. Patrick Spainhour said, "As anticipated, the
retail environment in March remained challenging. Sales for the month were
negatively affected by lower levels of traffic due to unseasonably cold weather
in many markets during the first half of March and a sluggish macro environment
resulting from geopolitical concerns. Additionally, we believe a late Easter had
the effect of driving sales from March into April. We currently expect April
comparable store sales to be in the low single digit negative to flat range.

         "In March, marketing efforts including magazine, direct mail, and
in-store promotions and events drove our business," continued Spainhour.
"Despite challenging shopping patterns and the Easter shift, we had some
category successes worthy of mention. At Ann Taylor color and novelty were well
received and the division enjoyed strong performance in its suits, knits,
sweaters, outerwear and fashion accessory categories. Fashion, value and color
drove our Loft client into the store. Suits, knits, wovens, casual separates,
outerwear and fashion accessories were standout performers at LOFT."

         Total inventory levels at the end of March were down approximately 5
percent on a per square foot basis compared to last year. This comparison
includes inventory attributable to Ann Taylor Global Sourcing.

         From a national perspective, the northeast, midatlantic and midwest
performed stronger than the south and west regions of the country.

         Mr. Spainhour continued, "During March we repurchased 380,000 shares of
common stock, using $6.9 million of our $50 million authorization under the
securities repurchase program approved by our Board during the second quarter of
2002. Including the 300,000 shares we repurchase in February, we have
repurchased a total of 680,000 shares of common stock, using $12.8 million this
fiscal year."

         During the month, the Company opened 7 new Ann Taylor Loft stores,
bringing the total store count at month end to 595, comprised of 350 Ann Taylor
stores, 218 Ann Taylor Loft stores and 27 Ann Taylor Factory stores. Total
square footage at the end of fiscal March increased 8.9 percent over the same
period last year. During the remainder of the first quarter, the Company plans
to open one additional Ann Taylor store and 6 new Ann Taylor Loft stores. During
the second quarter of fiscal 2003, the Company plans to open 2 new Ann Taylor
Loft stores and one Ann Taylor Factory store.

         Ann Taylor is one of the country's leading women's specialty retailers,
operating 595 stores in 42 states, the District of Columbia and Puerto Rico, and
also an Online Store at www.anntaylor.com as of April 5, 2003.

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FORWARD-LOOKING STATEMENTS
Certain statements in this press release are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The forward-looking statements may use the words "expect",
"anticipate", "plan", "intend", "project", "believe" and similar expressions.
These forward-looking statements reflect the Company's current expectations
concerning future events and actual results may differ materially from current
expectations or historical results. Any such forward-looking statements are
subject to various risks and uncertainties, including failure by the Company to
predict accurately customer fashion preferences; decline in the demand for
merchandise offered by the Company; competitive influences; changes in levels of
store traffic or consumer spending habits; effectiveness of the Company's brand
awareness and marketing programs; lack of sufficient customer acceptance of the
Ann Taylor Loft concept in the upper-moderate-priced women's apparel market;
general economic conditions or a downturn in the retail industry; the inability
of the Company to locate new store sites or negotiate favorable lease terms for
additional stores or for the expansion of existing stores; lack of sufficient
consumer interest in the Company's Online Store; a significant change in the
regulatory environment applicable to the Company's business; an increase in the
rate of import duties or export quotas with respect to the Company's
merchandise; financial or political instability in any of the countries in which
the Company's goods are manufactured; acts of war or terrorism in the United
States or worldwide; and other factors set fourth in the Company's filings with
the SEC. The Company does not assume any obligation to update or revise any
forward-looking statements at any time for any reason.

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                 Contact:
                 Barry Erdos
                 Chief Operating Officer
                 (212) 541-3318

                 Doreen D. Riely
                 Director, Investor Relations
                (212) 541-3484