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Ann Taylor tops estimates, raises view
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%.
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Foot Locker Q1 profit soars 76%
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.