Ann Q2 EPS up 21 percent

REPORT_ For the second quarter of 2013, Ann earnings per diluted share increased by 21 percent

compared with earnings per diluted share in the second quarter of 2012. Total company comparable sales for the quarter increased 2.8 percent versus the second quarter of 2012. Gross margin, as a percentage of net sales, was 54.7 percent versus 55.9 percent in the second quarter of 2012. At Ann Taylor, total brand comparable sales increased 3.1 percent. At Loft, total brand comparable sales were up 2.5 percent.

Gross margin, as a percentage of net sales, was 55.2 percent in the first half of 2013 compared with 56.2 percent in the first half of 2012. For the first half of 2013 total company comparable sales increased 1.2 percent. At Ann Taylor, total brand comparable sales increased 2.6 percent. At Loft, total brand comparable sales increased by 0.4 percent.

For the fiscal third quarter of 2013, gross margin rate performance is expected to approach 57 percent. For the full year, gross margin rate performance is expected to be 54.3 percent.

Ann is based in New York. It is the parent company of Ann Taylor and Loft, two women's specialty retail fashion brands. Kay Krill, President and Chief Executive Officer, commented, “Ann delivered record earnings per share for the second quarter of 2013. Both Ann Taylor and Loft achieved positive comparable sales and strong profitability in a highly challenging and competitive environment. Both brands are well-positioned to drive top-line growth and strong profitability in the second half of the year.”