Ann Inc comparable sales rise 2.3 percent in 2013

REPORT_ Ann Inc, for the full year of fiscal 2013, reported record earnings per diluted share of 2.19 dollars, compared with earnings per diluted share of 2.10 dollars in the full year of fiscal 2012. For the fiscal fourth quarter of 2013, it reported earnings per diluted share of 0.10 dollars, compared with earnings

per diluted share of 0.05 dollars in the fourth quarter of 2012. Total net sales for the full year of fiscal 2013 were 2.5 billion dollars, compared with net sales of 2.4 billion dollars in fiscal 2012.

By

brand, net sales across all channels of the Ann Taylor brand totaled 959.8 million dollars in fiscal 2013, compared with net sales of 945.2 million dollars in fiscal 2012. At the Loft brand, net sales across all channels were 1,533.7 million dollars in 2013, compared with net sales of 1,430.3 million dollars in 2012. Total company comparable sales for the full year of fiscal 2013 increased 2.3 percent. At the Ann Taylor brand, total comparable sales increased 1.1 percent, including an increase of 4.9 percent at Ann Taylor, which was partially offset by a decrease of 6.6 percent in the Ann Taylor Factory channel. At the Loft brand, total comparable sales increased 3 percent, including an increase of 4.2 percent at Loft.

Kay Krill, President and Chief Executive Officer, commented, “Fiscal 2013 was another successful year for Ann Inc, driven by the strength of both of our brands as well as the benefits of our strategic growth initiatives. We delivered record earnings per share for the second consecutive year. And, for the fourth consecutive year, comparable sales were positive at both Ann Taylor and Loft.”

Total net sales for the fourth quarter of fiscal 2013 were 623.3 million dollars, compared with net sales of 607.7 million dollars in the fourth quarter of fiscal 2012. By brand, net sales across all channels of the Ann Taylor brand totaled 246.2 million dollars in the fourth quarter of 2013, compared with net sales of 255 million dollars in the fourth quarter of 2012. At the Loft brand, net sales across all channels were 377.1 million dollars in the fourth quarter of 2013, compared with net sales of 352.7 million dollars in the fourth quarter of 2012.

Total comparable sales of the New York-based company for the quarter increased 2.9 percent versus a decrease of 0.7 percent in the fourth quarter of 2012. At Ann Taylor, total brand comparable sales declined 1.1 percent, reflecting an increase of 0.9 percent at Ann Taylor, which includes sales results at Ann Taylor stores and Anntaylor.com, and a decline of 6.1 percent in the Ann Taylor Factory channel. At Loft, total brand comparable sales increased 5.7 percent, reflecting an increase of 7.6 percent at Loft, which includes sales results at Loft stores and Loft.com, and a decrease of 3.5 percent in the Loft Outlet channel.

During the fourth quarter of 2013, the company opened twelve new stores, comprised of two Ann Taylor stores, six Loft stores, two Ann Taylor Factory stores and two Loft Outlet stores. The company closed ten Ann Taylor stores and four Loft stores during the quarter.

For the fiscal first quarter of 2014, the Company expects total net sales to approach 600 million dollars, reflecting total company comparable sales that are approximately flat with the fiscal first quarter of 2013. Gross margin rate performance is expected to approach 55 percent. In terms of the full year, the company currently expects fiscal 2014 total net sales to be 2.615 billion dollars, reflecting a total company comparable sales increase in the low-single digits.