- Total Company net sales are now expected to be $575 million.
- Total Company comparable sales decreased 0.5% compared with the first quarter of 2012.
- At Ann Taylor, total brand comparable sales increased 1.9%, reflecting an increase of 6.2% at Ann Taylor, partially offset by a decrease of 5.8% in the Ann Taylor Factory channel.
- At LOFT, total brand comparable sales decreased 1.9%, reflecting decreases of 0.9% at LOFT and 7.9% at LOFT Outlet.
- Gross margin rate for the Company is now expected to be 55.8%, reflecting a higher-than-anticipated promotional cadence, primarily at LOFT.
- Selling, general and administrative expenses are now estimated to be $290 million.
- The effective tax rate for the first quarter is anticipated to be approximately 38%.
ANN INC. Updates Outlook For First Quarter 2013
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.