Ann Taylor declares 8.7% rise in Sept earnings

07 Oct '05

4 min read

Women's fashion specialty retailer Ann Taylor Stores Corporation announced that total net sales for the five-week period ended October 1, 2005 increased 8.7 percent to $203,998,000 over total net sales of $187,667,000 for the five-week period ended October 2, 2004. By division, net sales were $84,027,000 for Ann Taylor compared to $79,722,000 last year, and $99,125,000 for Ann Taylor LOFT compared to $89,969,000 last year.

Comparable store sales for the period decreased 2.7 percent compared to a comparable store sales increase of 1.4 percent for the same five-week period last year. By division, comparable store sales for fiscal September 2005 were up 4.0 percent for Ann Taylor compared to a 5.1 percent decrease last year, and down 8.5 percent for Ann Taylor LOFT compared to a 10.2 percent increase last year.

Kay Krill, President & Chief Executive Officer of Ann Taylor, stated, 'While many of the underlying financial metrics were strong during September, overall results for the month were negatively affected by a low double-digit decrease in traffic at both divisions and a change in the promotional cadence at LOFT. Additionally, sales of seasonal product, such as outerwear, heavy wool and boots, were negatively impacted by the unseasonably warm weather, with the Northeast region experiencing the greatest impact.'

Ms. Krill continued, 'At Ann Taylor, their clients continued to respond positively to their new product, and both dollars per transaction and conversion increased over last year. At LOFT, they also saw a favorable client response to their September product. However, during the month, they modified certain promotional activities which had the impact of reducing sales, particularly in the first half of the month, but improved their margin rate.

More Ann Taylor News... More Apparel/Garments News - United States Of America...