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Ann Taylor profit tops estimate, upbeat on holiday
New York City -- AnnTaylor Stores Corp.'s fiscal third-quarter profit rose, aided by better-than-expected sales growth. Net income surged to $24.2 million in the third quarter ended Oct. 30, compared with $2.1 million a year earlier.
Total sales rose 9.3% to $505.3 million, above analysts' expectations of $492.8 million.
Same-store sales increased 11.7% overall, with a 21.9% rise at the Ann Taylor brand and a 4.5% less expensive Loft chain.
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Subway executive on ‘Undercover Boss’
Milford, Conn. -- Don Fertman, chief development officer for the Subway sandwich chain, is the latest executive to go undercover on the CBS television series “Undercover Boss.” Fertman, a 29 year veteran of the restaurant chain, will be seen baking bread, stocking sandwich ingredients, slicing vegetables, taking inventories and serving customers, on the episode that airs Nov. 21, at 9 p.m. ET/PT on CBS.