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Ann Taylor net sales decline in June

12
Jul '07

AnnTaylor Stores Corporation announced its sales results for the month of June 2007.

For the five-week period ended July 7, 2007, net sales decreased 1.4% to $232.4 million, compared with net sales of $235.7 million for the five-week period ended July 1, 2006. By division, net sales for Ann Taylor declined 3.6% to $80.6 million in June 2007, compared with net sales of $83.7 million in June 2006. For Ann Taylor LOFT, net sales decreased 5.4% to $117.7 million in June 2007, compared with net sales of $124.4 million in June 2006.

Comparable store sales for the June 2007 period decreased 8.4%, versus a comparable store sales gain of 12.5% in the June 2006 period. By division, comparable store sales declined 3.3% for Ann Taylor in the 2007 period, compared with an increase of 6.3% the prior year. For Ann Taylor LOFT, comparable store sales declined 13.9% in June 2007, compared with an increase of 18.5% the prior year.

Commenting on the Company's sales results, Ann Taylor President & Chief Executive Officer Kay Krill stated, "Our results in June reflected another month of slow traffic, as well as continued softness at LOFT, although client acceptance of new LOFT deliveries has improved."

"At Ann Taylor, our professional wear-to-work, knit top and dress categories continued to show strength, with color and novelty items particularly strong, while neutrals were challenging. In addition, sweaters continued to be difficult, and we were somewhatmore promotional than we had planned at Ann Taylor in order to continue to maintain healthy inventory positions."

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