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Ann Taylor July same-store sales decline 5.1%

Aug '06
Ann Taylor Stores Corporation announced that total net sales for the four-week period ended July 29, 2006 increased 12.6 percent to $156.7 million over total net sales of $139.1 million for the four-week period ended July 30, 2005.

By division, net sales were $58.7 million for Ann Taylor compared to $58.3 million last year, and $80.2 million for Ann Taylor LOFT compared to $66.1 million last year.

Comparable store sales for the period increased 5.1 percent compared to a comparable store sales decrease of 3.5 percent for the same four-week period last year. By division, comparable store sales for fiscal July 2006 were up 1.4 percent for Ann Taylor compared to a 10.3 percent decrease last year, and up 8.3 percent for Ann Taylor LOFT compared to a 1.2 percent increase last year.

Kay Krill, President & CEO of Ann Taylor, stated, "We are very pleased with our performance for the month of July. We experienced a significant increase in full-price selling and higher margins over our sales in July of last year. Based on effective inventory management throughout the season, coupled with strong product, we were able to eliminate our traditional semi-annual 40 percent clearance event in July in both divisions, resulting in more profitable sales growth for the month. We entered August in an extremely healthy inventory position.

"The Ann Taylor division delivered its twelfth consecutive month of positive comparable store sales, driven by the strength ofsuits, skirts, casual separates, petites and accessories. Our focus on transitional colors such as brown and deep red in lightweight fabrics was well received. The LOFT division continued its excellent momentum, as our emphasis on fashion and great value continued to resonate with clients. Relaxed and casual separates, dresses, petites and sweaters performed exceptionally well," he said.

Ann Taylor is one of the country's leading women's specialty retailers, operating 824 stores in 46 states, the District of Columbia and Puerto Rico.

Ann Taylor Stores Corporation

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