Ann Inc Q3FY'13 sales up in double-digits

01 Dec '12

4 min read

Total Company comparable sales for the first nine months of 2012 increased 4.7%, on top of an increase of 7.3% in the comparable period of 2011. At Ann Taylor, total brand comparable sales increased 0.9%, including increases of 0.6% at our multichannel Ann Taylor business and 1.5% in the Ann Taylor Factory channel. At LOFT, total brand comparable sales increased 7.1%, including increases of 8.2% at our multichannel LOFT business and 0.4% in the LOFT Outlet channel. (Please refer to Table 3 for a breakdown of sales by brand and channel.)

Gross margin, as a percentage of net sales, was 56.8% in the first nine months of 2012, compared with 56.6% in the first nine months of 2011. Selling, general and administrative expenses for the first nine months of 2012 were $839.0 million, versus $788.7 million in the first nine months of 2011. As a percentage of net sales, selling, general and administrative expenses improved 40 basis points versus the prior year to 47.5%.

The Company reported operating income of $165.2 million in the first nine months of 2012, an increase of 16% compared with operating income of $142.3 million in the first nine months of 2011. Net income was $100.2 million in the first nine months of 2012, an increase of 19% versus the $84.4 million reported in the first nine months of 2011.Diluted earnings per share in the first nine months of 2012 was $2.05, an increase of 30% over the $1.58 per diluted share reported in the first nine months of 2011.

Ann Inc

More Ann Taylor News... More Apparel/Garments News - United States Of America...