ANN Crushes on Earnings as Shares Skyrocket

Shares of Ann

are up 8.59 percent to $31.49 in pre-market trading following the release of fourth quarter earnings and the 2013 fiscal year estimate. The Q4 $0.01 EPS estimate was toppled with a report of $0.05. Despite beating estimates, EPS is down 50 percent from the same quarter one year prior. Ann Inc. reported Q4 revenue of $607.70M, missing estimates of $617.82M by 10.12M. The company expects 2013 sales of $2.56B versus the $2.51B estimate. If true, this will mark the third consecutive increase in yearly sales for retailer which recorded sales of 2.21B and 1.98B over the past two years. Ann Inc. reported expectations of $600M of first quarter sales.