This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ANN INC Management Discusses Q2 2012 Results - Earnings Call Transcript

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

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs