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

Apparel/Garments | On 23rd Mar 2017

European & Asian apparel brands open EBO's in South Korea

Following the success of Japanese brand Uniqlo in the South Korean...

Apparel/Garments | On 23rd Mar 2017

Destination XL reports turnaround in Q4FY17 net income

For the three months ended January 28, 2017, omni channel retailer of ...

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Interviews View All

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

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

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Giorgio Mantovani
Corman S.p.A

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

Paolo Ocleppo
Sandvik Hyperion

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rupa Sood and Sharan Apparao
Nayaab

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

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

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search