Ann Inc. Q3 same-store sales up 5.5%; raises full-year outlook

New York -- Ann Inc. on Wednesday reported net income was $40.7 million in the third quarter of 2012, versus $32.3 million in third quarter 2011. The company also increased its outlook for the full year of fiscal 2012.

Total net sales for quarter were $612.5 million, compared $564.0 million in the year-ago period. By brand, net sales across all channels of the Ann Taylor brand totaled $244.6 million compared with net sales of $229.7 last year At the Loft brand, net sales across all channels were $368.0 million, compared with $334.3 million last year.

Total same-store sales for the quarter increased 5.5%.

“Among the highlights, in September we successfully launched the first phase of our multichannel initiative, which is off to a strong start and will provide meaningful opportunities to better leverage our inventory investment and maximize sales and gross margin,” said Kay Krill, president and CEO. “During the quarter, we also made our entry into Canada, opening our first store in Toronto in September, followed by two additional stores in November. The response has been outstanding, and we are very excited about the opportunities in this market. Overall, it was an excellent quarter for Ann Inc., and we have entered the fourth quarter in a strong position.”

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