Ann Taylor returns to profitability in first quarter

Ann Taylor returns to profitability in first quarter
Ann Taylor returns to profitability in the first quarter Women's clothing retailer Ann Taylor Stores Corp (ANN) said it returned to profitability in the first quarter, mainly due to strong performance at its namesake stores and Ann Taylor Loft stores, as well as more full-price sales. President and CEO Kay Krill said shoppers responded well to spring merchandise and traffic improved. The company turned to a profit of $22.6 million, or 38 cents per share, in the quarter ended May 1, from a loss of $2.31 million, or 4 cents per share, in the same period last year. Quarterly revenue increased 12% to $476 million from $427 million in the same period last year. Analysts surveyed by Thomson Reuters expected the company to earn 35 cents per share and revenue of $475 million in the quarter. Ann Taylor said same-store sales increased 14.1% in the first quarter. Among them, same-store sales at namesake stores increased 16.4%; Loft stores increased 12.5%. Inventory per square foot fell 2.3%. Ann Taylor expects second-quarter revenue of about $500 million and same-store sales growth of at least 10%. For fiscal 2010, the company expects revenue of $1.95 billion to $1.98 billion, with same-store sales growth at both its stores and Loft stores. Analysts on average expect the company to have second-quarter revenue of $503 million and full-year revenue of $1.96 billion. As of the end of the first quarter, Ann Taylor had 903 stores in 46 states, Washington, D.C., and Puerto Rico.

<<:  Basic terms of HACCP certification

>>:  Ann Taylor Human Rights Factory Inspection Checklist

Recommend

Gift Options—Personalized gift packaging service

What are GiftOptions? Gift Options includes Gift ...

Let me tell you - the process of opening a store on eBay

What is eBay? eBay: The world's leading onlin...

What is EDM? What are the advantages of EDM?

What is EDM? EDM is the abbreviation of Email Dir...

How to use Super Store Manager? What are the functions of Super Store Manager?

All cross-border e-commerce sellers should learn ...

Where does Shopify's traffic come from? How to get traffic?

Shopify newbies, look here. Today I will introduc...

What is Merge? What are the benefits of using Merge?

One quick and easy Amazon trick every day. Today ...

Summary of BSCI factory audit matters

1. Unlike customers who entrust a third party to ...

Why are more and more brands accepting the Global Recycling Standard (GRS)?

The Global Recycled Standard (GRS) was originally...

What is Frontier? What services does Frontier offer?

What is Frontier? Frontier Car Group (FCG) is a B...

Ann Taylor returns to profitability in first quarter

Ann Taylor returns to profitability in the first q...

Brand New Photo Service--Amazon product image origin

Brand New Photo Service is a service launched by ...

What is ClickFunnels CRM?

ClickFunnels is actually a landing page building ...