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Ann Inc Q3FY'13 sales up in double-digits
01
Dec '12
ANN INC reported results for the fiscal third quarter of 2012, ended October 27, 2012. 

Fiscal 2012 Third-Quarter Results

Total net sales for the third quarter of fiscal 2012 were $612.5 million, compared with total net sales of $564.0 million in the third quarter of fiscal 2011.  By brand, net sales across all channels of the Ann Taylor brand totaled $244.6 million in the third quarter of 2012, compared with net sales of $229.7 million in the third quarter of 2011.  At the LOFT brand, net sales across all channels were $368.0 million in the third quarter of 2012, compared with net sales of $334.3 million in the third quarter of 2011.

Total Company comparable sales for the quarter increased 5.5%, on top of an increase of 5.5% in the third quarter of 2011.  At Ann Taylor, total brand comparable sales increased 4.3%, reflecting increases of 5.6% at Ann Taylor, which includes sales results from both Ann Taylor stores and anntaylor.com, and 1.7% in the Ann Taylor Factory channel. 

At LOFT, total brand comparable sales were up 6.2%, reflecting an increase of 8.0% at LOFT, which includes sales results from both LOFT stores and LOFT.com, slightly offset by a decline of 3.0% in the LOFT Outlet channel.   (Please refer to Table 3 for a breakdown of sales by brand and channel.)

The Company reported operating income of $66.9 million in the third quarter of 2012, compared with operating income of $54.7 million in the third quarter of 2011. Net income was $40.7 million in the third quarter of 2012, versus the $32.3 million reported in the third quarter of 2011. 

Total Company inventory per square foot, including inventory for both stores and e-commerce, at the end of the fiscal third quarter of 2012 decreased 5%, reflecting a 1% increase at Ann Taylor, a 1% decrease at LOFT and an 18% decrease in the factory outlet channel.      

During the third quarter of fiscal 2012, the Company opened 25 stores, comprised of four Ann Taylor stores, one Ann Taylor Factory store, eight LOFT stores and twelve LOFT Outlet stores.  The Company also closed three Ann Taylor and three LOFT stores.  The total store count at the end of the fiscal third quarter was 981, comprised of 278 Ann Taylor stores, 101 Ann Taylor Factory stores, 510 LOFT stores, and 92 LOFT Outlet stores.

Fiscal 2012 Nine-Month Results

Net sales for the first nine months of fiscal 2012 were $1.8 billion, compared with net sales of $1.6 billion in the first nine months of fiscal 2011.  By brand, net sales across all channels of the Ann Taylor brand were $690.2 million in the first nine months of 2012, compared with net sales of $670.5 million in the first nine months of 2011.  At the LOFT brand, net sales across all channels were $1,077.6 million in the first nine months of 2012, compared with net sales of $975.3 million in the first nine months of 2011.

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