AnnTaylor Stores Corporation announced its sales results for the month of May 2007.
For the four-week period ended June 2, 2007, net sales increased 1.6% to $221.1 million, compared with net sales of $217.6 million for the four-week period ended May 27, 2006.
By division, net sales for Ann Taylor declined 3.6% to $79.2 million in May 2007, compared with net sales of $82.2 million in May 2006. For Ann Taylor LOFT, net sales increased 0.8% to $111.8 million in May 2007, compared with net sales of $110.9 million in May 2006.
Comparable store sales for the May 2007 period decreased 4.6%, versus a comparable store sales gain of 12.0% in the May 2006 period.
By division, comparable store sales declined 3.2% for Ann Taylor in the 2007 period, compared with an increase of 10.4% the prior year. For Ann Taylor LOFT, comparable store sales declined 8.4% in May 2007, compared with an increase of 14.0% the prior year.
Commenting on the Company's sales results, Ann Taylor President & Chief Executive Officer Kay Krill stated, "As we expected, our sales performance in May improved versus April and, overall, was essentially in line with our expectations."
Our Ann Taylor division continued to achieve strong full-price sales, although the division's comp performance for May was impacted by weak mall traffic and continued softness in sweaters that was not offset by our continued strength in knits.
Strong categories during the month for Ann Taylor were suits, dresses, knits and petite apparel. At LOFT, we are encouraged by the reaction of our clients to the product improvements we were able to make, including adding some additional color and novelty items to the assortment.
"We continue to anticipate gradual improvement in LOFT's product assortments over the course of the next several months.Overall, we remain confident in our earnings outlook for the business for the balance of the year, as previously disclosed."
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