AnnTaylor Posts Loss, Shares Fall (Update)

AnnTaylor Stores(ANN Quote) swung to a loss in the first quarter, but beat analysts expectations.

This was not enough, however, to calm investors' fears, and shares of the company sank 6% to $8.45 in morning trading.

"While the first quarter at Ann Taylor Stores was better than we, and the Street expected, we remain concerned about Ann Taylor from a merchandise perspective," Jennifer Black, analyst at the firm bearing her name, wrote in a note on Wednesday. ...