AnnTaylor Stores Earnings: Here’s Why Investors are Happy Now
AnnTaylor Stores Corp. (NYSE:ANN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.97%.
AnnTaylor Stores Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.63% to $0.76 in the quarter versus EPS of $0.63 in the year-earlier quarter.
Revenue: Rose 7.28% to $638.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AnnTaylor Stores Corp. reported adjusted EPS income of $0.76 per share. By that measure, the company beat the mean analyst estimate of $0.65. It missed the average revenue estimate of $639.38 million.
Quoting Management: Kay Krill , President and Chief Executive Officer, commented, “ANN INC. delivered record earnings per share for the second quarter of 2013, which included a double-digit increase in net income and stronger sales versus the year-ago period. I am especially pleased to report that both Ann Taylor and LOFT achieved positive comparable sales and strong profitability in a highly challenging and competitive environment. In fact, the Ann Taylor brand generated its fifth consecutive quarter of positive comps. At the LOFT brand, performance was significantly stronger than first quarter with a positive comp on top of last year’s mid-single-digit comp growth.”
Key Stats (on next page)…