Ann Taylor's full-price product performs very well
09 Feb '07
3 min read
AnnTaylor Stores Corporation announced its sales results for the month of January 2007 and the full fiscal year 2006. The Company noted that fiscal 2006 represented a 53-week period, while fiscal 2005 represented a 52-week period.
For the five-week period ended February 3, 2007, net sales increased 21.0% to $149.9 million, compared with net sales of $123.9 million for the four-week period ended January 28, 2006. By division, net sales for Ann Taylor were up 10.5% to $61.0 million in January 2007, compared with net sales of $55.2 million in January 2006.
Comparable store sales for the four-week period ended January 27, 2007 declined 10.2%, compared with a comparable store sales increase of 10.9% for the four-week period ended January 28, 2006. By division, comparable store sales decreased 13.0% for Ann Taylor in the January 2007 period, compared with an increase of 15.7% in the prior year. For Ann Taylor LOFT, comparable store sales decreased 12.5% in January 2007, compared with an increase of 8.4% in the prior year.
Commenting on the January sales results, Ann Taylor President & Chief Executive Officer Kay Krill stated, "January was clearly a disappointing month from a comparable store sales perspective. However, our Ann Taylor division continued to experience strength in full-price sales and increased gross margin versus the prior year, while LOFT, on the other hand, continued to experience weakness.”
“The soft January comp at Ann Taylor was directly related to not offering the 40% off promotional event we ran last January due to this year's healthy inventory position. Ann Taylor's full-price product performed very well for the month, with strong comp performance achieved across most categories.”
marketing@alchempro.com
