New York City AnnTaylor Stores Corp. on Friday reported a third-quarter profit as it cut costs and booked lower restructuring charges than it did a year ago.
The company earned $2.1 million for the quarter ended Oct. 31, compared with a year-ago loss of $13.4 million.
Sales softened, sending revenue down to $462.4 million from $527.2 million. Analysts expected $473.9 million.
The company expects fourth-quarter sales will fall "slightly" below third-quarter results. Analysts expect revenue of $458.2 million.
"Our results for the quarter were a direct result of our strategy to maximize gross margin performance by tightly managing inventories, focusing on full-price selling and controlling costs," chief executive Kay Krill said in a statement.
Same-store sales slid 13.7%, down 25.8% at Ann Taylor and 9.7% at its LOFT segment.