AnnTaylor Stores Corporation announced its sales results for the month of December 2007. In making the announcement, the Company also updated its outlook for the full fiscal year.
For the five-week period ended January 5, 2008, net sales decreased 3.8% to $263.7 million, compared with net sales of $274.2 million for the five-week period ended December 30, 2006.
By division, net sales for Ann Taylor decreased 13.1% to $94.8 million in December 2007, compared with net sales of $109.1 million in December 2006.
For Ann Taylor LOFT, net sales increased 0.5% to $131.5 million in December 2007, compared with net sales of $130.9 million in December 2006.
Comparable store sales for the December 2007 period decreased 9.4%, versus a comparable store sales decline of 5.3% in the December 2006 period. By division, comparable store sales for Ann Taylor decreased 13.9% in the 2007 period, compared with a decrease of 4.2% the prior year.
For Ann Taylor LOFT, comparable store sales decreased 7.0% in December 2007, compared with a decrease of 8.1% the prior year.
Due to the impact that the fiscal calendar shift had on the month of December, the Company provided the additional perspective that December comparable store sales at both divisions were unfavorably impacted by approximately seven comp points.
The Company indicated that, based on year-to-date business results through the month of December and its current outlook for January, it now expects diluted earnings per share for the full year of fiscal 2007 to be in the range of $1.80 to $1.85.
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