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Ann Taylor's Aug sale enjoys healthy inventory position

Sep '06
AnnTaylor Stores Corporation announced that total net sales for the four-week period ended August 26, 2006 increased 11.2 percent to $149.2 million over total net sales of $134.1 for the four-week period ended August 27, 2005.

By division, net sales were $56.6 million for Ann Taylor compared to $53.1 million last year, and $73.5 million for Ann Taylor LOFT compared to $66.8 million last year.

Comparable store sales for the period increased 1.9 percent compared to a comparable store sales increase of 3.7 percent for the same four-week period last year.

By division, comparable store sales for August 2006 were up 6.9 percent for Ann Taylor compared to a 5.6 percent increase last year, and declined 1.0 percent for Ann Taylor LOFT compared to a 1.9 percent increase last year.

Kay Krill, President and Chief Executive Officer, stated, "We entered August in an extremely healthy inventory position, which enabled us to continue our focus on driving full-price sales and higher gross margin, including the elimination of our traditional 50 percent clearance event in both divisions."

"Ann Taylor delivered its thirteenth consecutive month of positive comparable store sales with the results for the month benefiting from the early receipt of fall product. Suits, cropped pants, skirts, shoes and accessories have been particularly well-received."

"At LOFT, we achieved a solid increase in full-price sales, while non-full price sales decreased from last year as a result of much less clearance inventory. Our wear-now selection of dresses, relaxed separates, cropped pants and knit tops has performed well, and our fall collection is now in stores as of the first week of September."

Ann Taylor is one of the country's leading women's specialty retailers, operating 828 stores in 46 states, the District of Columbia and Puerto Rico.

AnnTaylor Stores Corporation

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