AnnTaylor Posts Profit (ANN)
March 12, 2010 8:26 AM
Women's clothing retailer AnnTaylor (NYSE: ANN) posted a fourth quarter profit that topped Wall Street estimates while revenues came in lighter than expected.
The company posted earnings of $0.05 per share, $0.06 better than consensus estimates which expected a loss of $0.01 per share. In the fourth quarter of 2008 the company lost $1.03 per share.
Net sales in the fourth quarter were 469.1 million, compared with sales of $483.4 million in the year ago quarter. Analysts were looking for sales of $472.3 million.
Management said the company sees "strong momentum" in the first quarter with same-store sales up approximately 10% in February.
Shares of AnnTaylor yesterday closed just off their 52-week high at $19.45. In pre-market trading shares are down $0.35, or 1.8%, to $19.10.
