Let me provide some specifics. First, Ann Taylor. At the Ann Taylor brand, performance accelerated significantly from the first quarter, reflecting stronger sales and profitability in the stores channel and continued profitable growth in e-commerce and factory.
Comparable store sales for the brand increased 6%. By channel, this included positive comp sales of 3% at Ann Taylor stores, 29% in e-commerce and 2% at Ann Taylor Factory. We were especially pleased with the return to positive comps in the stores channel this quarter driven by the successful execution of our product, pricing and promotional strategies. In fact, this channel also delivered positive comp sales in every month of the quarter, with each month getting stronger.
As a reminder, we are highly focused on continuing to drive higher sales, productivity and profitability in the Ann Taylor stores channel by offering our client a broader assortment of relevant fashion, providing more selection in opening price points across every category, becoming more surgical in our promotional strategy, offering our full assortment in all stores across the chain and enhancing the in-store shopping experience.
During the quarter, we definitely benefited from our plan to offer her a much higher penetration of color and a greater investment in key categories that she wants, such as dresses, skirts and feminine tops. In addition, we are very encouraged by the response we're seeing to our new pricing strategy, which is designed to provide our client with an expanded selection of merchandise at opening and good price points and even greater value. For the second quarter, we increased the penetration of opening price points in key categories, and she definitely responded at full price.We also made significant progress in scaling back on our promotions during the quarter, becoming much more surgical in our markdown strategies. We were able to execute a more targeted approach with less emphasis on storewide promotions. This enabled us to drive higher AURs and a much healthier full-price business while further reinforcing the aspirational nature of the Ann Taylor brand. Read the rest of this transcript for free on seekingalpha.com
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