By division, net sales at Ann Taylor declined 4.4% to $213.5 million in the third quarter of fiscal 2007, compared with net sales of $223.3 million in the third quarter of fiscal 2006. At LOFT, net sales increased 8.9% to $296.9 million in the third quarter of fiscal 2007, compared with net sales of $272.5 million in the third quarter of fiscal 2006.
Comparable store sales for the third quarter of fiscal 2007 declined 0.4%, compared with a comparable store sales increase of 2.6% the prior year. By division, comparable store sales at Ann Taylor declined 4.4% in the 2007 quarter, compared with an increase of 6.1% the prior year.
At LOFT, comparable store sales declined 0.3% in the 2007 quarter, compared with a decline of 0.9% the prior year. Comps at both divisions were significantly impacted by the soft traffic environment and unseasonably warm weather during the quarter.
Total inventory per square foot at the end of the third quarter of fiscal 2007 was down approximately 4%, compared with the 3% decline the Company achieved in the prior year. The Company indicated that both divisions ended the quarter in a healthy inventory position.
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AnnTaylor Stores Corporation
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