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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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Destination Maternity Q4 profit triples
Philadelphia -- Destination Maternity said its fourth-quarter net income tripled as cost-cutting measures paid off, even as sales in some categories fell.
The company earned almost $4.3 million for the quarter that ended Sept. 30, up from $1.4 million during the same period last year. Revenue rose slightly to $124.3 million, from $123.8 million a year earlier. Same-store sales fell 2.3%.