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NEW YORK (TheStreet) -- Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Jaffe said that by acquiring Ann his company will be able to leverage its infrastructure to produce over $150 million a year in synergies. He said transportation in particular can be streamlined as all their stores, which include Lane Bryant, Maurice's, Catherine's and Justice, can be combined with Ann Taylor's stores and fed from the same distribution centers.
Turning to the issue of the fickle fashion industry, Jaffe explained that spending has been shifting away from apparel for a few years now, migrating to the home and home furnishings, along with technology and experiences like restaurants and theme parks. However, in recent months he's noticed that fashion items, when properly executed, seem to be coming back. This is why Ascena, now with Ann, will be ready when the pendulum swings back to fashion.