2014

Ann Taylor Announces April 2007 Sales Results Company Reaffirms its Earnings Outlook for the Full Year



    NEW YORK, May 10 /PRNewswire-FirstCall/ -- AnnTaylor Stores Corporation
 (NYSE:   ANN) today announced its sales results for April and the first
 quarter of fiscal 2007.
     For the four-week period ended May 5, 2007, net sales declined 6.2% to
 $200.3 million, compared with net sales of $213.6 million for the four-week
 period ended April 29, 2006. By division, net sales for Ann Taylor declined
 8.6% to $76.4 million in April 2007, compared with net sales of $83.6
 million in April 2006. For Ann Taylor LOFT, net sales declined 9.6% to
 $96.6 million in April 2007, compared with net sales of $106.9 million in
 April 2006.
     Comparable store sales for the April 2007 period decreased 12.8%,
 versus a comparable store sales gain of 10.9% in the April 2006 period. By
 division, comparable store sales declined 8.2% for Ann Taylor in the 2007
 period, compared with an increase of 7.6% the prior year. For Ann Taylor
 LOFT, comparable store sales declined 17.4% in April 2007, compared with an
 increase of 13.4% the prior year.
     For the first quarter of fiscal 2007, net sales advanced 4.3% to $580.3
 million, compared with net sales of $556.2 million for the first quarter of
 2006. By division, net sales for Ann Taylor increased 0.3% to $222.2
 million in the first quarter of 2007, compared with net sales of $221.5
 million the prior year. For Ann Taylor LOFT, net sales increased 0.2% to
 $274.3 million in the 2007 quarter, compared with net sales of $273.6
 million the prior year.
     Comparable store sales for the first quarter of 2007 declined 3.3%,
 versus a comparable store sales gain of 5.6% in the first quarter of 2006.
 By division, comparable store sales for Ann Taylor increased 0.9% in the
 first quarter of 2007, compared with an increase of 7.4% the prior year.
 For Ann Taylor LOFT, comparable store sales declined 9.0% in the 2007
 quarter, compared with an increase of 4.7% the prior year.
     Commenting on the Company's sales results, Ann Taylor President & Chief
 Executive Officer Kay Krill stated, "April was a difficult month for the
 Company. Following good results in March, our performance heading into
 April and for much of the month was soft, primarily due to the record cold
 temperatures across the country, as well as the earlier timing of Easter
 this year and continued softness at LOFT. For the quarter, our Ann Taylor
 division achieved a positive comp, delivering balanced product assortments
 that drove higher full-price selling. Our key wear-to-work categories and
 dresses were especially strong for the quarter, and we remain confident in
 our outlook for the division for the balance of the year. At LOFT, our
 results continued to reflect a product assortment that is not yet fully
 back on track. As previously communicated, we do expect to see gradual
 improvement in LOFT's product offering over the course of the next several
 months heading into Fall."
     "Despite the soft performance in April, we continue to believe that we
 will meet our earnings guidance for the full year, achieving diluted
 earnings per share in the range of $2.15 to $2.25," Ms. Krill stated.
     About Ann Taylor
     Ann Taylor is one of the country's leading women's specialty retailers,
 operating 869 stores in 46 states, the District of Columbia and Puerto
 Rico, and Online Stores at www.anntaylor.com and www.anntaylorLOFT.com as
 of February 3, 2007.
     FORWARD-LOOKING STATEMENTS
     Certain statements in this press release are forward-looking statements
 made pursuant to the safe harbor provisions of the Private Securities
 Litigation Reform Act of 1995. The forward-looking statements may use the
 words "expect", "anticipate", "plan", "intend", "project", "may", "believe"
 and similar expressions. Forward-looking statements also include
 representations of the expectations or beliefs of the Company concerning
 future events that involve risks and uncertainties, including:
     -- the Company's ability to predict accurately client fashion preferences;
     -- competitive influences and decline in the demand for merchandise
        offered by the Company;
     -- the Company's ability to successfully execute brand extensions and new
        concepts;
     -- effectiveness of the Company's brand awareness and marketing programs;
     -- the Company's ability to secure and protect trademarks and other
        intellectual property rights in the United States and/or foreign
        countries;
     -- general economic conditions, including the impact of higher fuel and
        energy prices, interest rates, a downturn in the retail industry or
        changes in levels of store traffic;
     -- fluctuation in the Company's level of sales and earnings growth;
     -- the Company's ability to locate new store sites or negotiate favorable
        lease terms for additional stores or for the lease renewal or expansion
        of existing stores;
     -- risks associated with the performance and operations of the Company's
        Internet operations;
     -- a significant change in the regulatory environment applicable to the
        Company's business;
     -- risks associated with the possible inability of the Company,
        particularly through its sourcing and logistics functions, to operate
        within production and delivery constraints and the Company's dependence
        on a single distribution facility;
     -- the uncertainties of sourcing associated with the current quota
        environment, including changes in sourcing patterns resulting from the
        elimination of quota on apparel products and the re-imposition of
        quotas in certain categories, and other possible trade law or import
        restrictions;
     -- financial or political instability in any of the countries in which the
        Company's goods are manufactured;
     -- risks associated with a failure by independent manufacturers to comply
        with the Company's labor practices requirements;
     -- the potential impact of natural disasters and public health concerns,
        particularly on the Company's foreign sourcing offices and
        manufacturing operations of the Company's vendors;
     -- acts of war or terrorism in the United States or worldwide;
     -- work stoppages, slowdowns or strikes;
     -- the Company's ability to hire, retain and train key personnel;
     -- the Company's ability to successfully upgrade and maintain its
        information systems, including adequate system security controls; and
     -- the Company's ability to continue operations in accordance with its
        business continuity plan in the event of an interruption.
     Further description of these risks and uncertainties and other
 important factors are set forth in the Company's latest Annual Report on
 Form 10-K, including but not limited to Item 1A - Risk Factors and Item 7 -
 Management's Discussion and Analysis of Financial Condition and Results of
 Operations therein, and in the Company's other filings with the SEC.
 Although these forward-looking statements reflect the Company's current
 expectations concerning future events, actual results may differ materially
 from current expectations or historical results. The Company does not
 assume any obligation to publicly update or revise any forward-looking
 statements at any time for any reason.
 
 

SOURCE Ann Taylor

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.