May 22, 2015
Ann Inc.
May 22, 2015
The parent company of Ann Taylor and Loft on Friday reported its first quarter results for the 2015 financial year, revealing net sales of $597.7 million, compared with net sales of $590.6 million in the first quarter of 2014. Overall a satisfying fist quarter.
By brand, net sales across all channels of the Ann Taylor brand totaled $211.3 million in the first quarter of 2015, compared with net sales of $219.9 million in the first quarter of 2014. At the Loft brand, net sales across all channels were $386.4 million in the first quarter of 2015, compared with net sales of $370.6 million in the first quarter of 2014.
Total company comparable sales for the quarter decreased 1.5%. At Ann Taylor, total brand comparable sales declined 3.0%, reflecting an increase of 2.6% at Ann Taylor, which includes Ann Taylor stores and anntaylor.com, and a decline of 14.5% in the Ann Taylor Factory channel.
At Loft, total brand comparable sales declined 0.6%, reflecting decreases of 0.7% at Loft, which includes Loft stores and Loft.com, and 0.2% in the Loft Outlet channel.
Net income for the first quarter of 2015 was $13.6 million, compared to $5.2 million a year prior.
"Ann Inc. delivered bottom-line results for the quarter that exceeded our expectations," said Kay Krill, President and Chief Executive Officer. "The results reflected a weak February but positive comparable sales performance at both Ann Taylor and Loft in the combined March and April period."
$1 = £0.64
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