Apparel Retailer Ann's Second Quarter Net Profit Increases 16%

As of August 3, 2013, Ann's net profit increased by 16% year-on-year to US$35.6 million, and diluted earnings per share was US$0.76, a 21% increase from US$0.63 in the same period of last year, which was also higher than market expectations of US$0.65.

Net sales increased by 7.2% from the same period last year to 639 million US dollars to 632.8 million US dollars, less than the market expected of 639.4 million US dollars; same store sales achieved 2.8% growth, falling after falling for two consecutive quarters rose, the growth rate of its brands Ann Taylor and Loft It is 3.1% and 2.5%.

Ann ** and Chief Executive Officer Kay Krill stated in their financial report that they are particularly satisfied with the fact that Ann Taylor and Loft are still able to achieve same-store sales growth in a challenging and highly competitive environment. He pointed out that this is Ann Taylor's fifth consecutive quarter of same-store sales growth.

Ann expects net sales in the third quarter will reach US$655 million, which is lower than the market forecast of US$659.3 million. Same-store sales will record a single-digit increase. For the full year of FY2013, the Group lowered its revenue from 2.54 billion U.S. dollars to 2.515 billion U.S. dollars, and same-store sales will also have a median single-digit growth.