- 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
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