ANN, Inc. (ANN) Tops Q1 EPS by 4c; Guides Q2, FY15 Sales

ANN, Inc. (NYSE: ANN) reported Q1 EPS of $0.37, $0.04 better than the analyst estimate of $0.33. Revenue for the quarter came in at $597.7 million versus the consensus estimate of $604.86 million.

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.

Kay Krill, President and Chief Executive Officer, commented, "ANN INC. delivered bottom-line results for the quarter that exceeded our expectations. We were able to achieve these results, despite softer-than-anticipated gross margin performance, through continued effective management of expenses.

"The results reflected a weak February but positive comparable sales performance at both Ann Taylor and LOFT in the combined March and April period, as clients responded positively to our new Spring assortments that coincided with the onset of warmer weather.

"Overall, we continue to focus on delivering meaningful growth on both the top and bottom lines as the year progresses. We are excited about the product and merchandising strategies we have underway, as well as our progress towards further enhancing the brand experience for our clients across multiple touchpoints. We're very pleased with the early completion of our endless aisle roll-out, which further enhances our strong omni-channel capabilities. In addition, we look forward to the contributions from our other strategic initiatives, including our Supply Chain Initiative, SG&A Optimization Program and the growth of Lou & Grey, as we continue to take steps to grow our business and increase profitability," Ms. Krill concluded.

ANN, Inc. sees Q2 2015 revenue of $660 million, versus the consensus of $659.1 million.

ANN, Inc. sees FY2015 revenue of $2.56 billion, versus the consensus of $2.58 billion.

For earnings history and earnings-related data on ANN, Inc. (ANN) click here.

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