Home / Knowledge / News / Apparel/Garments / Women's specialty apparel retailer Ann Taylor lifts Q1 guidance

Women's specialty apparel retailer Ann Taylor lifts Q1 guidance

13
May '08
AnnTaylor Stores Corporation announced that it now expects earnings per diluted share for the first quarter will exceed its previous guidance range, due primarily to stronger results at LOFT and better overall expense and inventory management.

Based upon preliminary figures, the Company's net sales in the fiscal first quarter ended May 3, 2008 increased 2% to approximately $592 million, versus net sales of $580 million in the first quarter ended May 5, 2007.

Comparable store sales for the quarter declined 4.3%, with the Ann Taylor division down 11.5% and the LOFT division up 0.7%.

The Company indicated that it currently expects earnings per diluted share for the quarter, excluding previously-announced restructuring costs, to be approximately $0.45-0.47, versus its previous guidance range of $0.35-0.40 per diluted share.

The improvement in the Company's earnings per diluted share outlook for the quarter largely reflects stronger results at LOFT, as well as better overall expense and inventory management and the benefit of the Company's share repurchase program.

The Company indicated that its inventory per square foot was down approximately 15% at the end of the quarter, with both Ann Taylor and LOFT down significantly.

Commenting on the announcement, Ann Taylor President and Chief Executive Officer Kay Krill stated, "We are very pleased with our performance in the first quarter, particularly in light of the ongoing macroeconomic softness and the challenges that virtually all consumer products companies are facing.


Must ReadView All

Pic: Shutterstock

Fashion | On 2nd Dec 2020

Fashion industry suffering worst year on record: report

Global fashion sales and economic profit—a measure of value where...

Pic: Global Fashion Agenda

Apparel/Garments | On 2nd Dec 2020

GFA launches Circular Fashion Partnership in Bangladesh

Denmark-based sustainability forum Global Fashion Agenda (GFA)...

Pic: Shutterstock

Textiles | On 2nd Dec 2020

Pakistan's textile & apparel exports up 3.78% in July-Oct

The value of textile and garment exports from Pakistan rose by 3.78...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

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

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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


December 2020

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


Advanced Search