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

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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