Home / Knowledge / News / Apparel/Garments / AnnTaylor raises its fiscal Q4 outlook
AnnTaylor raises its fiscal Q4 outlook
03
Feb '11
AnnTaylor Stores Corporation announced that, based upon stronger than anticipated fourth quarter sales, including positive comparable sales at both the Ann Taylor and LOFT brands, the Company expects to report top-line and bottom-line results for the fiscal fourth quarter of 2010 that will exceed the current consensus of analyst expectations and be substantially higher than the fourth quarter of 2009. The Company also expects to report substantially stronger sales and earnings for fiscal year 2010 over fiscal year 2009.

Based on preliminary results, the Company provided an update to its November 2010 outlook, as follows:

• Total Company net sales for the fiscal fourth quarter of 2010 are expected to be $515 million, compared to its previous outlook for fourth quarter sales to approach $500 million.
• Comparable sales for the fourth quarter of 2010 increased approximately 11%, as compared to the Company's prior outlook for a comparable sales increase in the mid- to high-single-digit range. By brand, comparable sales at the Ann Taylor brand increased approximately 21%, and at the LOFT brand comparable sales increased approximately 4%.
• Gross margin rate is expected to be approximately 51%, reflecting solid gross margin results at Ann Taylor, offset by a higher level of promotional activity at LOFT during the quarter.
• Selling, general and administrative expenses are expected to be in line with the Company's earlier projection of approximately $250 million for the quarter.
• An estimated fourth quarter effective tax rate of approximately 25%.
• During the fiscal fourth quarter, the Company repurchased approximately 3 million shares at a total cost of approximately $80 million, resulting in an expected total weighted average diluted share count of approximately 57 million for the fourth quarter.

Kay Krill, President and Chief Executive Officer, said, "We are very pleased with our fourth quarter performance, driven by stronger-than-anticipated sales. Importantly, we generated positive comparable sales at both brands in each month of the quarter.

“The higher sales performance more than offset the impact of several significant weather events as well as margin pressure at LOFT and enabled us to deliver strong bottom line results and a clean inventory position at the end of the quarter. Overall, the quarter represented a solid finish to a strong fiscal 2010, with sales and earnings for the year that are substantially higher than fiscal 2009 levels."

AnnTaylor Stores Corporation


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Marazban F Velati
Sutlej Textiles & Industries limited

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Suresh P Bagrecha

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

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

Pranav Mishra
Huemn

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

Nisha Chanda
Whistling Woods International School of Fashion

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

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