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Ann Taylor confirms sharp rise in June sales

11
Jul '05
A premier American specialty women's apparel retailer Ann Taylor Stores Corporation announced total net sales for the five-week period ended July 2, 2005 increased 11.0 percent to $192,479,000 over total net sales of $173,349,000 for the five-week period ended July 3, 2004.

By division, net sales were $79,187,000 for Ann Taylor compared to $79,668,000 last year, and $93,899,000 for Ann Taylor LOFT compared to $77,618,000 last year.

Comparable store sales decreased 1.2 percent for the period, compared to a comparable store sales increase of 11.9 percent for the same five-week period last year.

By division, comparable store sales for fiscal June 2005 were down 2.7 percent for Ann Taylor compared to a 6.7 percent increase last year, and down 0.8 percent for Ann Taylor LOFT compared to a 20.9 percent increase last year.

Ann Taylor Chairman, J. Patrick Spainhour, stated, "Our June sales reflected the positive response we have seen to new product as well as the favorable impact of more seasonable weather. Nonetheless, we will continue to take whatever actions are necessary in the second quarter to enable us to enter the third quarter in a clean inventory position."

Total inventory levels at the end of June were down approximately one percent on a per square foot basis compared to the same period last year. By division, inventory levels on a per square foot basis were down approximately seven percent at Ann Taylor and up approximately five percent at Ann Taylor LOFT.


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