By early afternoon, shares have dropped 5.2% to $39.30.
Over the three months to April, the company earned 33 cents a share, 2 cents higher than analysts surveyed by Thomson Reuters expected. Revenue was 2.8% higher year over year to $590.6 million.
For its second quarter, the company expects revenue of around $670 million. Analysts expected a slightly-lower $669 million.
TheStreet Ratings team rates ANN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ANN INC (ANN) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
- You can view the full analysis from the report here: ANN Ratings Report