Ann Inc Declares 5.1% Boost in First Quarter Net income
Ann Inc (NYSE:ANN) on Friday reported that earnings in the fiscal Q1 moved up 5.1% because the lesser use of promotions assisted the company to surpass its downbeat sales forecasts.
Women’s apparel seller also estimates current-quarter sales of $585 million whereas analysts polled by Thomson Reuters anticipated $593 million.
Ann announced a profit of $28.7 million or 58 cents per share in the period finished April 28, high from $27.3 million or 51 cents per share in the same period a year ago. Thomson Reuters analyst’s survey had most newly anticipated earnings of 51 cents.
The company reported that sales climbed 7% to $560.4 million, a little ahead of its March anticipation for $560 million, which was lower than Wall Street forecasts at the time. Women’s apparel seller also posted that gross margin tumbled to 56.6%.
Ann reported that total sales at same store climbed 3.8%, evaluated against 7.8% boost in the previous year. Sales at same-store moved up 11.3% at Loft, while Ann Taylor sales at same-store tumbled 6.9%.
Turning towards the stock analysis, Ann Inc (NYSE:ANN) after opening at $27.36 hit high price of $27.50 and then recently traded at $26.76 by climbing 3.56% and on present session volume of 2.42 million shares was surprisingly more than its average volume of 1.36 million shares.
The stock price volatility was 3.99% for a week and 3.59% for a month as well as price volatility’s Average True Range for 14 days was 0.99 and its beta remained 1.85.
The liquidity measure in recent quarter results of the company was recorded 1.66 as current ratio and on the other side the debt to equity ratio was 0.01 and long-term debt to equity ratio also remained 0.01.
Competitors of ANN, Limited Brands, Inc (NYSE:LTD) plunged -1.24% to settle at $45.29, The Talbots, Inc (NYSE:TLB) fell -1.74% to traded at $2.26 while Chico’s FAS, Inc (NYSE:CHS) moved up 0.07% to settle at $14.79 at 2:46PM EDT.