News

Ann Q2 profit down; cuts full-year outlook

BY Marianne Wilson

New York — Ann Inc. on Friday reported earnings of $32.7 million in its fiscal second quarter, down from $35.6 million in the second quarter of 2013. Its results were in line Wall Street expectations. Looking ahead, the company forecast revenue for the third quarter below Street estimates and also lowered its revenue outlook for fiscal 2014.

Total net sales for quarter were $648.7 million, compared with net sales of $638.2 million in the year ago period.

Total company same-store sales decreased 2.3%. At Ann Taylor, same-store sales increased 0.7%, reflecting an increase of 2.0% at Ann Taylor, partially offset by a decline of 1.9% in the Ann Taylor factory channel.

Same-store sales at Loft fell 4.1%, with a decrease of 5.2% at full-priced Loft stores and an increase of 0.3% in the Loft outlet channel.

“As previously reported, while the quarter had started on a positive note with solid momentum through mid-June, the second half of the period proved challenging, as softer traffic levels and a highly promotional environment pressured sales and margin,” said Kay Krill, president and CEO. “In addition, Loft experienced continued softness in basic knit tops, which represented a significant component of its summer assortment.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Aeropostale posts Q2 loss; projects wider loss for current quarter

BY Marianne Wilson

New York — Aeropostale Inc. on Thursday reported a second-quarter loss that was less than the Wall Street expected. It also forecast a bigger-than-expected loss for the current quarter.

Aeropostale, which has lost money for seven consecutive quarters, reported a net loss for the second quarter of fiscal 2014 of $63.8 million, compared to a loss of $33.7 million in the year-ago period.

Net sales decreased 13% to $396.2 million, from $454.0 million in the year ago period. Same-store sales, including the e-commerce channel, decreased 13%.

The retailer recently announced Julian Geiger will return as its CEO. Geiger was chairman and CEO of Aeropostale from 1998 to 2010, when he stepped down and was replaced by Thomas Johnson.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Hibbett Sports profit drops 21% amid higher costs

BY Marianne Wilson

Birmingham, Ala. — Hibbett Sports profit in the second quarter declined 21% amid higher store operating, selling and administrative expenses. Net income for the 13-week period ended August 2, 2014, was $8.4 million compared with $10.5 million for the 13-week period ended August 3, 2013

Net sales for the quarter increased 4.1% to $193.9 million compared with $186.2 million for the 13-week period ended August 3, 2013. Same-store sales edged up 0.1%.

“Comparable store sales were softer than expected for the quarter, but we are encouraged by the improvement in traffic in early August,” said Jeff Rosenthal, president and CEO. “In addition, we are on pace to achieve our goal of 75 to 80 new stores this year, and continue to be pleased with new store performance. Our new wholesale and logistics facility continues to show significant productivity gains, and we look forward to the benefits this facility will provide.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...