NEW YORK (TheStreet) -- Shares of Ann Inc. (ANN) 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.
Must Read: Warren Buffett's 25 Favorite Stocks
- You can view the full analysis from the report here: ANN Ratings Report
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV