NEW YORK (TheStreet) -- Shares of Ann Inc. (ANN - Get Report) are down -5.05% to $36.85 after the specialty women's retailer lowered its sales guidance for the year amid soft traffic and continued promotions, while its fiscal second quarter sales just beat the downbeat guidance the retailer offered earlier this month, the Wall Street Journal reports.
The company's earnings beat analysts' projections.
Ann cut its fiscal 2014 sales guidance to $2.56 billion from its previous call of $2.61 billion, and expects sales at existing locations to be flat, compared with its previous outlook of growth in the low single digits.
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- You can view the full analysis from the report here: ANN Ratings Report
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