Home / Knowledge / News / Apparel/Garments / Ann Taylor ends fiscal 2009 on a strong note
Ann Taylor ends fiscal 2009 on a strong note
13
Mar '10
Ann Taylor Stores Corporation reported results for the fiscal fourth quarter and full year of 2009, ended January 30, 2010, and provided an outlook for the first quarter and full year of fiscal 2010.

For the fourth quarter of 2009, the Company reported earnings per diluted share of $0.05, excluding after-tax restructuring charges of $0.05 per diluted share, compared with a net loss per diluted share of $1.03 in the fourth quarter of 2008, excluding after-tax restructuring, goodwill and asset impairment charges totaling $5.63 per diluted share. On a GAAP basis, including the aforementioned restructuring and impairment charges, earnings per diluted share were breakeven in the fourth quarter of 2009, compared with a loss per diluted share of $6.66 in the fourth quarter of 2008.

Kay Krill, President and Chief Executive Officer, said, "Fiscal 2009 ended on a strong note, with fourth quarter results coming in ahead of our expectations. Our success was driven by compelling product at both Ann Taylor and LOFT, our well-executed promotional strategy and effective inventory management. Together, these accomplishments during the quarter translated into significantly improved sales and margin trends, including a substantial increase in full-price selling compared to last year, as well as higher profitability and earnings.

"We are pleased that we entered fiscal 2010 in a solid position. We have strong momentum into the first quarter, with both brands achieving comparable store sales increases of approximately 10% in February. Ann Taylor's repositioning continues to gain traction and we are excited about the product and marketing initiatives we have underway to drive continued sales improvement."

"LOFT also continues to refine and expand upon its proven formula of offering compelling and relevant fashion at great value, and we look forward to this brand's ongoing growth. We ended the year with a healthy balance sheet and no bank debt. Importantly, even as we take steps to enhance sales growth in 2010, we will be focused on delivering strong gross margin performance with a disciplined approach to inventory management. We have a talented team in place to drive profitable results and future growth."

Click here to read more details:

Ann Taylor Stores Corporation


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Larry L Kinn
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

October 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
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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