300
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Aug 26, 2013
Download
Download the article
Print
Text size

Ann profit beats estimates as Ann Taylor, LOFT sales rise

By
Reuters
Published
Aug 26, 2013

Women's apparel retailer Ann Inc posted a higher-than-expected rise in second-quarter profit, driven by strong sales at its Ann Taylor and LOFT stores.



The company also approved a new $250 million share buyback program, which helped its stock rise 3 percent to $33.67 in premarket trade.

The company's total comparable store sales rose 2.8 percent -- the first rise in three quarters. Comparable store sales at Ann Taylor rose 3.1 percent in the quarter ended August 3, while those at LOFT rose 2.5 percent.

The rise in comparable sales at Ann is in stark contrast with the steep decline in same-store sales posted by other U.S. retailers, including Aeropostale Inc, Abercrombie & Fitch Co and Macy's Inc.

Ann's net income rose to $35.6 million, or 76 cents per share, in the in the second quarter, from $30.7 million, or 63 cents per share, a year earlier.

Analysts on average were expecting profit of 65 cents per share, according to Thomson Reuters estimations.

Revenue rose 7 percent to $638.2 million, but fell short of analysts' estimates of $639.4 million.

Ann forecast third-quarter revenue of $655 million, below market estimates of $659.3 million. Its fiscal 2013 sales forecast of $2.52 billion was also shy of analysts expectations of $2.53 billion.

Ann had been forced to offer more promotions during the fourth quarter last fiscal and the first quarter of this fiscal as customers kept away due to unseasonable weather and clothing lines that failed to resonate with shoppers.

The company's shares closed at $32.63 on the New York Stock Exchange on Thursday.

© Thomson Reuters 2024 All rights reserved.