AnnTaylor (ANN) Shares Bounce 10% on Strong Guidance, Q4 EPS
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Price: $44.89 --0%
Financial Fact:
Weighted average shares outstanding, assuming dilution: 45.38M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Weighted average shares outstanding, assuming dilution: 45.38M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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AnnTaylor Stores Corp. (NYSE: ANN) shares are up more than 6 percent on Friday before the opening bell after the company gave a strong forecast and posted slightly better-than-expected fourth-quarter profit.
The clothing store operator reported fourth-quarter earnings of 19 cents per share, 2 cents better than the analyst estimate of 17 cents per share.
Revenue for the company rose to $515.3 million in the three month period up from $469.1 million last year, compared to the market consensus of $515.14 million.
Same store sales, or sales at locations open at least one year, rose 11 percent in the quarter.
Kay Krill, President and CEO, commented, "Our strong performance in the fourth quarter capped off an excellent year for our Company. For both the quarter and the fiscal year, we achieved substantial increases in sales and profitability, while positioning both the Ann Taylor and LOFT brands for continued growth."
The company also announced the approval of a $200 million stock buyback, while also announcing the change of its name to Ann Inc.
Looking forward, AnnTaylor sees sales in the first quarter of about $510 million and $2.175 billion for the full year, compared to the Street's view of $488 million and $1.98 billion respectively.
Shares of AnnTaylor are up 10 percent to $26.55 in premarket trade on Friday.
The clothing store operator reported fourth-quarter earnings of 19 cents per share, 2 cents better than the analyst estimate of 17 cents per share.
Revenue for the company rose to $515.3 million in the three month period up from $469.1 million last year, compared to the market consensus of $515.14 million.
Same store sales, or sales at locations open at least one year, rose 11 percent in the quarter.
Kay Krill, President and CEO, commented, "Our strong performance in the fourth quarter capped off an excellent year for our Company. For both the quarter and the fiscal year, we achieved substantial increases in sales and profitability, while positioning both the Ann Taylor and LOFT brands for continued growth."
The company also announced the approval of a $200 million stock buyback, while also announcing the change of its name to Ann Inc.
Looking forward, AnnTaylor sees sales in the first quarter of about $510 million and $2.175 billion for the full year, compared to the Street's view of $488 million and $1.98 billion respectively.
Shares of AnnTaylor are up 10 percent to $26.55 in premarket trade on Friday.
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