UPDATE: ANN, Inc. (ANN) Tops Q1 EPS by 2c; Guides Q2 - Correct

ANN, Inc. (NYSE: ANN) reported Q1 EPS of $0.33, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $590.6 million versus the consensus estimate of $598.25 million.

Total Company comparable sales for the quarter decreased 1.8% versus a decrease of 0.5% in the first quarter of 2013. At Ann Taylor, total brand comparable sales declined 2.3%, reflecting flat comparable sales at Ann Taylor, which includes Ann Taylor stores and anntaylor.com, and a decline of 7.1% in the Ann Taylor Factory channel. At LOFT, total brand comparable sales declined 1.6%, reflecting decreases of 1.8% at LOFT, which includes LOFT stores and LOFT.com, and a decline of 0.2% in the LOFT Outlet channel

ANN, Inc. sees Q2 2014 revenue of $670 million, versus the consensus of $668.95 million. Total Company comparable sales expected increase in the low-single digits.

ANN, Inc. sees FY2014 revenue of $2.61 billion, versus the consensus of $2.61 billion.

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

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