Market Overview

UPDATE: Ann Posts Rise In Q4 Earnings, Plans To Lower 100 Jobs

Related ANN
Macquarie Adjusts Recommendations On Several Retail Stocks
Ann Inc Spikes Amid News Of Discussions With Golden Gate Capital
After 4Q Beat, Ann Taylor to Cut 5% of Workforce (Fox Business)

Ann (NYSE: ANN) reported a rise in its fourth-quarter earnings and issued a downbeat forecast for the year. The company also announced its plans to lower about 100 jobs.

Ann's quarterly earnings surged to $4.7 million, or $0.10 per share, from $2.4 million, or $0.05 per share, in the year-ago period.

Its revenue climbed 3% to $623.3 million versus $607.7 million. However, analysts were estimating earnings of $0.07 per share on revenue of $624 million.

Ann appointed Gary Muto as president of Ann Inc. Brands.

Ann shares closed at $34.87 yesterday.

Posted-In: profitEarnings News Guidance Management

 

Related Articles (ANN)

Around the Web, We're Loving...

Get Benzinga's Newsletters