AnnTaylor Posts Higher Profit . |
| Wall Street Journal - Mar 11, 2011 |
AnnTaylor Stores Corp. reported improved fiscal-fourth-quarter results, reflecting a strong performance from its Ann Taylor brand and conservative inventory positions.
The company also said Friday it will change its corporate name to Ann Inc. to better reflect its multi-channel focus and will expand its share repurchase program.
AnnTaylor, which operates Ann Taylor and the more casual Loft stores, has experienced improvement in its bottom line lately with stronger sales. In general, retailers have had a strong showing in the latest quarter, with many reporting improved results even as consumer-spending worries linger.
The company reported a profit of $7.97 million, or 14 cents a share, for the quarter ended Jan. 29, up from $41,000, or less than a penny a share, a year earlier. Excluding restructuring charges, per-share earnings rose to 19 cents from five cents. Analysts had most recently forecast earnings of 17 cents.
Read Full Article from Wall Street Journal
- Posted: 2011-03-11 09:28:47
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