Home / Knowledge / News / Apparel/Garments / Apparel retailer Ann Q3 FY'13 sales up 7%
Apparel retailer Ann Q3 FY'13 sales up 7%
25
Nov '13
ANN INC. reported results for the fiscal third quarter of 2013, ended November 2, 2013.  The Company also provided its outlook for the fourth quarter and updated its outlook for the full year of fiscal 2013.

For the fiscal third quarter of 2013, the Company reported record earnings per diluted share of $0.89, compared with earnings per diluted share of $0.84 in the third quarter of 2012. 

Diluted earnings per share for the fiscal third quarter of 2012 included an $0.08 per share benefit related to the recognition of gift card and merchandise credit breakage.  Excluding the benefit, diluted earnings per share for the fiscal third quarter of 2012 was $0.76.

Fiscal 2013 Third-Quarter Results

Total net sales for the third quarter of fiscal 2013 were $657.5 million, an increase of 7% compared with total net sales of $612.5 million in the third quarter of fiscal 2012. 

By brand, net sales across all channels of the Ann Taylor brand totaled $249.2 million in the third quarter of 2013, compared with net sales of $244.6 million in the third quarter of 2012.  At the LOFT brand, net sales across all channels were $408.4 million in the third quarter of 2013, compared with net sales of $368.0 million in the third quarter of 2012.

Total Company comparable sales for the quarter increased 3.7%, on top of an increase of 5.5% in the third quarter of 2012.  At Ann Taylor, total brand comparable sales increased 0.6%, reflecting an increase of 4.4% at Ann Taylor, which includes sales results at both Ann Taylor stores and anntaylor.com, and a decline of 6.9% in the Ann Taylor Factory channel. 

At LOFT, total brand comparable sales were up 5.6%, reflecting an increase of 6.3% at LOFT, which includes sales results at both LOFT stores and LOFT.com, and an increase of 1.8% in the LOFT Outlet channel.  

Gross margin, as a percentage of net sales, was 55.7%, compared with the 57.9% gross margin rate achieved in the third quarter of 2012. The gross margin performance in the third quarter of 2013 primarily reflected the impact of a highly competitive promotional environment.

Selling, general and administrative expenses for the third quarter of 2013 were $295.8 million versus $287.5 million reported in the third quarter of 2012.  As a percentage of net sales, selling, general and administrative expenses improved 190 basis points to 45.0% compared to the third quarter 2012 rate of 46.9%. 

The improvement in SG&A rate during the third quarter of 2013 primarily reflected fixed cost leveraging resulting from higher net sales and lower performance-based compensation expense, partially offset by expenses associated with our year-over-year store growth and other expenses supporting the expansion of the business. 

The Company reported operating income of $70.4 million in the third quarter of 2013, compared with operating income of $66.9 million in the third quarter of 2012.  Net income was $41.2 million in the third quarter of 2013, versus the $40.7 million reported in the third quarter of 2012. 

Diluted earnings per share was $0.89, compared with $0.84 in the third quarter of 2012.  Diluted earnings per share for the fiscal third quarter of 2012 included a one-time $0.08 per share benefit related to the recognition of gift card and merchandise credit breakage, without which, diluted earnings per share was $0.76.

Click here to read full results

Ann Inc


Must ReadView All

Textiles | On 16th Aug 2017

USITC to continue investigations on PSF imports

The US International Trade Commission (USITC) has determined that...

Textiles | On 16th Aug 2017

India’s apparel exports stumble in July 2017

Exports of readymade garments (including those made of cotton,...

Apparel/Garments | On 16th Aug 2017

EU displaces Japan as Myanmar’s largest apparel market

After the reinstatement of Generalised Scheme of Preferences (GSP)...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X