Home / Knowledge / News / Apparel/Garments / Ann Taylor reports strong Q2 results, boosts year view

Ann Taylor reports strong Q2 results, boosts year view

18
Aug '06
Women's specialty retailer Ann Taylor Stores Corporation reported record financial results for the second quarter of fiscal 2006.

Kay Krill, President & CEO of Ann Taylor, stated, "We are delighted with the record performance we achieved during the second quarter. We built on our positive momentum at both Ann Taylor and LOFT, driving increased full-price sales and higher gross margin to deliver a fivefold increase in earnings per share for the quarter. This marked the second consecutive quarter of reporting the highest earnings in the Company's history. Based on the strong results year to date, we are increasing our earnings guidance for the 2006 fiscal year to $2.05-$2.10 per diluted share."

For the second quarter ended July 29, 2006, net income reached $43.2 million, or $0.59 per share on a diluted basis (on an average of 72.8 million shares outstanding). This compares to net income of $7.1 million, or $0.10 per share on a diluted basis (on an average of 72.5 million shares outstanding) in the second quarter of fiscal 2005, which included a charge of $9.5 million, or $0.08 per diluted share, related to the relocation of the company's corporate offices.

Net income for second quarter 2006 was reduced by $0.02 per share to reflect the change in recording compensation expense on stock options and other forms of equity awards in accordance with Statement of Financial Accounting Standards No. 123(R).

The company's net sales for the quarter totaled $610.0 million, up 19.9 percent from $508.7 million for the same period last year. By division, net sales for the second quarter of fiscal 2006 were $224.6 million for Ann Taylor compared to $212.2 million last year, and $315.5 million for Ann Taylor LOFT compared to $245.4 million last year.


Must ReadView All

Pic: Shutterstock

Textiles | On 10th Apr 2021

Turkey's exports to UK surge in Q1 following post-Brexit FTA

Turkish exporters have seen a noteworthy surge in exports to the...

Pic: Sunshine Seeds / Shutterstock.com

Textiles | On 10th Apr 2021

South African woven cotton textile sector workers get 5.5% rise

Those working in the woven cotton textile sub-sector in South Africa...

Pic: Shutterstock

E-commerce | On 10th Apr 2021

H&M launches on e-commerce platform Zalora in southeast Asia

H&M has joined hands with Zalora and has launched on the e-commerce...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Subrata Ghosh,

Subrata Ghosh

Nandan Denim, part of leading conglomerate Chiripal Group, commenced its...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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

Leave your Comments


March 2021

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


Advanced Search