Ann Taylor's full-price product performs very well
09 Feb '07
3 min read
“At LOFT, we continued to struggle with our full-price assortment, which was not wear now and did not offer enough updated classics. The division also aggressively promoted Fall and Holiday product throughout the month. As we enter fiscal 2007, we are pleased with our Spring product for AnnTaylor, and we believe that LOFT will continue to be challenged by both a lack of wear now product and updated classics during the Spring season."
For the full fiscal year 2006, net sales increased 13.0% to $2,342.9 million, versus net sales of $2,073.1 million for the full fiscal year 2005. By division, net sales for Ann Taylor were up 4.4% to $912.8 million in fiscal 2006, compared with $873.9 million in fiscal 2005. For Ann Taylor LOFT, net sales were up 15.6% to $1,146.5 million in fiscal 2006, compared with $991.9 million in fiscal 2005.
Comparable store sales for the 52-week period ended January 27, 2007 increased 2.8%, compared with a comparable store sales increase of 0.1% for the 52-week period ended January 28, 2006. By division, comparable store sales increased 3.1% for Ann Taylor in fiscal 2006, compared with an increase of 0.6% in fiscal 2005. For Ann Taylor LOFT, comparable store sales increased 1.9% in fiscal 2006, compared with a decrease of 0.3% in fiscal 2005.
“At Ann Taylor, the division's success throughout the year in providing clients with a better product assortment resulted in increased full-price sales and higher margins. Our LOFT division had a terrific first half this past year, but the momentum stalled in the back half, as our product mix was too heavily focused on fashion versus updated classics.
marketing@alchempro.com
