Global Apparel Market – An Overview | Watch NOW! | Ad
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

Trump announces tariffs on $200 bn worth Chinese imports

Apparel/Garments | On 18th Sep 2018

Trump announces tariffs on $200 bn worth Chinese imports

US President Donald Trump escalated the trade war with China on...

Courtesy: Sunrise Bumi Textiles

Textiles | On 18th Sep 2018

Sunrise Bumi developing new products for profitability

Sunrise Bumi Textiles, one of the world's leading quality yarn...

New Zealand bans sheep mulesing

Textiles | On 18th Sep 2018

New Zealand bans sheep mulesing

New Zealand has banned the practice of mulseing sheep, making the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Himanshu Jariwala,

Himanshu Jariwala

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

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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


September 2018

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

news category


Related Categories:

Advanced Search