Apparel

New York City -- Ann Inc., the operator of Ann Taylor and Loft stores, posted a 21% increase in its fiscal-first-quarter earnings and raised its full-year sales estimate.

For the quarter ended April 30, Ann reported a profit of $27.3 million, up from $22.62 million in the prior-year quarter.

Sales rose almost 10% to $523.6 million, but margins slipped to 57.3%, against 59% last year. Same-store sales rose 7.8%.
 

New York City -- Foot Locker said on Thursday that its first-quarter profit jumped 76% as sales rose sharply. The retailer, which has benefited from efforts to cut costs and close dozens of poorly performing locations, said it earned $94 million for the quarter that ended April 30.

Sales increased 13% to $1.45 billion, from $1.28 billion a year earlier. Same-store sales rose 12.8%. The results easily beat the average estimates of analysts.

York, Pa. -- Bon-Ton Stores said Thursday that its first-quarter loss grew as it booked hefty debt-related charges and sales declined almost 2%. Management blamed unseasonably cold and wet weather for weak sales of seasonal apparel, which forced the retailer to take markdowns and other adjustments.

The company reported a loss of $36 million for the three months ended April 30, compared with a loss of $23.5 million in the same period last year.

New York City -- Liberty Media Corp. has offered to buy Barnes & Noble in a deal valued at about $1 billion, which represents a 20% premium over the bookseller’s market value Thursday. Barnes & Noble said Thursday that the cash offer, which the Wall Street Journal called a “stunner,” is worth $17 a share.

The companies have yet to sign an agreement.

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the first quarter ended April 30, were 40 cents compared with adjusted earnings per share of 25 cents for the quarter ended May 1.  First quarter adjusted net income was $129.8 million compared with adjusted net income of $82.9 million last year, the company reported. 

Limited Brands reported that comparable-store sales for the first quarter increased 15%, and net sales were $2.217 billion compared to $1.932 billion last year.  

HOFFMAN ESTATES, Ill. — Sears Holdings reported a first-quarter net loss of $170 million, or $1.58 per diluted share, in line with the company's expectations for a net loss in the range of $145 million and $195 million, or between $1.35 and $1.81 per diluted share. The company reported net income of $16 million, or 14 cents per diluted share, in 2010.

SECAUCUS, N.J. — The Children's Place Retail Stores has announced net sales of $430.8 million for the first quarter ended April 30, a 2% increase compared with $422.1 million in the first quarter of fiscal 2010. Comparable-retail sales declined 3.2% in the first quarter of 2011.

The company reported that income from continuing operations after tax was $29.1 million, or $1.10 per diluted share, in the first quarter of 2011, compared to $28 million, or $1.00 per diluted share, in the first quarter of 2010.

San Francisco -- Gap reported Thursday that its first-quarter earnings plummeted 23% as costs rose faster than expected, and the chain dramatically lowered its full-year earnings forecast.

Gap is spending about 20% more to produce each item than it did a year ago -- a much faster rise than it expected, the Associated Press reported.

Gap’s net income was $233 million for the quarter ended April 30, compared with $302 million. The performance was slightly better than analysts expected, however.

Everett, Wash. -- Zumiez reported Thursday net income of $1.9 million in the first quarter, compared with a loss of $1.9 million in the year-ago period. The retailer said it plans to open 44 new stores in fiscal 2011, including its first stores in Canada.

The results for the first quarter of fiscal 2010 include costs of approximately $1.2 million associated with the relocation of the company's distribution center from Everett, Wash., to Corona, Calif.

Columbus, Ohio -- Limited Brands reported Wednesday that strong sales boosted its first-quarter profit to $165.2 million, up 47% over its prior-year profit of $112.5 million. The company warned that rising costs will hurt its margins this year.

The parent of Bath and Body Works, Victoria's Secret and La Senza previously reported a revenue increase of 15% to $2.22 billion. Same-store sales rose 15%.