"At LOFT, against the backdrop of an extremely strong June last year, our June delivery this year performed well, and we were pleased with the success of this month's color and novelty offering. However, the overall assortment, which also includes April and May product, continued to lack the appropriate balance of color, novelty, and updated classics."
"Nevertheless, despite some softness in June and ongoing concerns regarding the macro environment, our focus on aggressively managing our inventory, reducing our cost structure and repurchasing our shares--along with our ongoing belief that our product at LOFT will be brand-appropriate in the Fall--gives us confidence in achieving EPS in the range of $2.15 to $2.25 for the year."
AnnTaylor Stores Corporation
marketing@alchempro.com
