Ann Inc., parent company of Ann Taylor and The Loft, expects net sales and same-store sales to increase for the fourth quarter and full year fiscal 2013, on a year-over-year basis.
For the full year, Ann Inc. issued guidance for total net sales of $2.49 billion, reflecting a total net sales increase of 5% and a same-store sales increase of 2%.
For the fourth quarter, total company net sales are now expected to be $623 million, reflecting a same-store sales increase of 3%. At the Ann Taylor brand, total same-store sales declined 1%, reflecting an increase of 1% at Ann Taylor, offset by a decline of 6% in the Ann Taylor Factory channel. At the Loft brand, total same-store sales increased 6%, reflecting an increase of 8% at Loft, partially offset by a decline of 4% in the Loft Outlet channel.
"We are pleased with the year's results, despite the fact that the fourth quarter came in lower than anticipated,” said Kay Krill, president and CEO of Ann Inc. “The company's sales, gross margin and EPS for fourth quarter 2013 will be higher than fourth quarter 2012. However, soft traffic and tepid consumer spending across the industry negatively impacted us, particularly in factory outlet centers and geographic regions that experienced extreme winter weather.”