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Sales rise 7% at apparel retailer Ann Inc in Q2 FY'12
Aug '12
ANN INC. reported results for the fiscal second quarter of 2012, ended July 28, 2012.  The Company also provided its outlook for the third quarter and raised its outlook for the full year of fiscal 2012.

For the fiscal second quarter of 2012, the Company reported earnings per diluted share of $0.63, an increase of 34 percent compared with earnings per diluted share of $0.47 in the second quarter of 2011.

Kay Krill, President and Chief Executive Officer, commented, "We are extremely pleased with ANN INC.'s record earnings per share of $0.63 this quarter, up 34% over last year.  Our outstanding results were driven by a seven percent increase in sales, including a comparable sales increase of five percent, a record gross margin rate of 56 percent and a 27 percent increase in operating income.

"At the Ann Taylor brand, performance accelerated significantly from the first quarter, reflecting stronger sales and profitability, including positive comps in the Ann Taylor stores channel and continued profitable growth in the e-commerce and factory outlet channels.  

"LOFT also delivered excellent sales and profitability results, including strong margin and continued solid comp growth on top of last year's double-digit increase.  

"Clearly, our performance at both brands demonstrated strong product acceptance driven by the successful delivery of compelling fashion, excellent quality, outstanding value and an engaging shopping experience, in store and online." 

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