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Ann Taylor's net income soars 29% in 2005

10 Mar '06

3 min read

During the fourth fiscal quarter of 2005, the company opened nine Ann Taylor LOFT stores and two Ann Taylor Factory stores. The total store count at quarter-end was 824, comprised of 357 Ann Taylor stores, 416 Ann Taylor LOFT stores and 51 Ann Taylor Factory stores.

For the fiscal year ended January 28th 2006, the company reported net income of $81.9 million compared to net income of $63.3 million for the same period last year.

As previously reported, fiscal year net sales totaled $2.1 billion, up 11.8 percent from $1.9 billion last year. By division, net sales were $873.9 million for Ann Taylor compared to $854.9 million last year and $991.9 million for Ann Taylor LOFT compared to $826.6 million last year.

Same store sales for the fiscal year increased 0.1 percent compared to a 3.6 percent increase last year. By division, same store sales increased 0.6 percent for Ann Taylor compared to a 2.7 percent decrease last year and decreased 0.3 percent for Ann Taylor LOFT compared to a 12.8 percent increase last year.

During the fiscal year, the company opened nine Ann Taylor stores, 73 Ann Taylor LOFT stores and 15 Ann Taylor Factory stores.

The company expects to see fiscal year 2006 same store sales increase in the low single-digit range over 2005, with gross margin improving over last year. Additionally, it expects selling, general and administrative expenses to grow by approx. 11 to 12 percent over 2005 levels.

The company plans to open approx. 10 Ann Taylor stores, 60 LOFT stores and five Ann Taylor Factory Stores, with total square footage growth of approx. 7.3 percent.

Ann Taylor is one of the country's leading women's specialty retailers, operating 824 stores in 46 states, the District of Columbia and Puerto Rico.

Ann Taylor Stores Corporation

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