AnnTaylor Stores (ANN) Reports Breakeven Q3 Earnings; Comps Fell 19.4%
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AnnTaylor Stores Corporation (NYSE: ANN) reports Q3 adj-EPS of $0.00, 1 cent lower than the analyst estimate of $0.01. Revenue for the quarter was $527.2 million, versus the consensus of $531.92 million.
Same store sales fell 19.4% during the quarter.
The Company indicated that it currently expects the weakness in consumer spending to persist through Q4 and, as a result, it expects its Q4 top-line performance to be consistent with the trends experienced towards the latter part of Q3. Furthermore, the Company indicated that it expects the competitive environment to remain highly promotional and, coupled with a Q4 receipt plan that did not anticipate the magnitude of the current softness, it expects gross margin to remain under significant pressure. Given the volatility and uncertainty heading into Q4, the Company is not providing EPS guidance for the fourth quarter or FY08 at this time.
AnnTaylor Stores Corporation, through its subsidiaries, operates as a specialty retailer of women's apparel, shoes, and accessories in the United States.
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EarningsGuidance
Retail Sales
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