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The use of the Internet is becoming more prevalent all the time in the investor relations (IR) activities of firms. This paper explores how the Internet can be used and integrated into the existing IR activities of firms. It argues that the Internet is having a significant impact on IR practices, changing the specific techniques and activities associated with IR. As shown with several examples, the Internet can substantially change how a firm communicates with investment community stakeholders in terms of both its one‐way communication efforts directed at information dissemination and its two‐way communication efforts directed at interactive dialogue.

Ann Taylor was founded in 1954, and its classic black dress and woman's power suit were staples for years. In 1995 Ann Taylor LOFT was launched to appeal to a more casual, costconscious consumer. Under Kay Krill's leadership, the division began to outperform the original flagship. When Krill was promoted to President/CEO of Ann Taylor Stores Corporation in 2005, she was challenged with rebuilding the Ann Taylor brand - (i.e., meeting the “wardrobing needs of the updated classic consumer”) while maintaining the image and market share of LOFT. By mid-2008, an additional problem appeared: the macroeconomic climate was posing considerable uncertainty, especially for retail businesses. Krill was firmly committed to long-term growth. However, given the 2008 situation, what could she do to unleash what she believed was the firm's “significant untapped potential”?