NEW YORK ( TheStreet) -- AnnTaylor Stores (ANN) swung to a second-quarter loss as sales fell from a year ago, although the company topped expectations on an adjusted basis and offered a rosy view for the third quarter.
The apparel retailer swung to a second-quarter net loss of $18 million, or 32 cents a share, compared with a net profit of $29.3 million, or 50 cents a share, in the year-ago quarter.
Excluding restructuring charges, AnnTaylor said it would have earned 6 cents a share in the quarter, down from a profit of 53 cents a year earlier.
Revenue fell 20.6% to $470.2 million from $592.3 million in the same quarter a year ago. Comparable store sales for the quarter declined 22.5% from the prior year, AnnTaylor said. Gross margin was 52.4%, unchanged from a year ago.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV