Net income up 33% at Ann Taylor
NEW YORK — Ann Inc., formerly known as Ann Taylor Stores Corp., reported that its second -quarter earnings rose 33% $24.8 million, helped by strong online sales and a jump in revenue at the company's Loft stores. The company raised its full-year sales guidance, saying it is confident despite the challenging consumer environment.
It was the company’s eighth consecutive quarter of double-digit earnings growth
Sales were $558.2 million, topping expectations of $551.4 million from analysts. Same-store sales rose 8.6%. The measure rose 5.3% at Ann Taylor, up 0.6% at regular stores, 32% at the company's website, and 6.5% at factory stores.
Same-store sales rose 11% at Loft, up 8.6% at Loft, 33.5% on the web and 23.7% at outlet stores.