Ann Inc. Earnings Cheat Sheet: Sees Profit Move Up

Ann Inc. (NYSE:ANN) reported its results for the second quarter. Ann, Inc. offers a range of career and casual separates, dresses, tops, weekend wear, shoes and accessories to provide modern styles that are versatile across all occasions and needs.

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Ann Earnings Cheat Sheet for the Second Quarter

Results: Net income for Ann Inc. rose to $24.8 million (47 cents per share) vs. $18.6 million (31 cents per share) in the same quarter a year earlier. This marks a rise of 33.2% from the year earlier quarter.

Revenue: Rose 15.5% to $558.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: ANN beat the mean analyst estimate of 45 cents per share. Analysts were expecting revenue of $550.2 million.

Quoting Management: Kay Krill, President and CEO, commented, “With our second quarter results, ANN INC. delivered an eighth consecutive quarter of double digit growth in earnings and diluted earnings per share. Our results reflect strong performance at the LOFT brand across all channels for the quarter, as clients responded to the assortment of feminine basics and fashion at great value. We also delivered solid results in the Ann Taylor brand, with strong performance in the e-commerce and factory channels and positive, but softer-than-expected, performance in the stores channel.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 2 cents in the fourth quarter of the last fiscal year, and by 8 cents in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 10% to $523.6 million in the first quarter. The figure rose 9.8% in the fourth quarter of the last fiscal year from the year earlier and climbed 9.3% in the third quarter of the last fiscal year from the year-ago quarter.

The company’s cost of sales rose 15.6% from a year earlier. Last quarter, cost of sales was 45% of revenue, similar to a year earlier.

Competitors to Watch: New York & Company, Inc. (NYSE:NWY), Coldwater Creek Inc. (NASDAQ:CWTR), Christopher & Banks Corp. (NYSE:CBK), The Talbots, Inc. (NYSE:TLB), Charming Shoppes, Inc. (NASDAQ:CHRS), Chico’s FAS, Inc. (NYSE:CHS), Ascena Retail Group Inc (NASDAQ:ASNA), Limited Brands, Inc. (NYSE:LTD), bebe stores, inc. (NASDAQ:BEBE), J.C. Penney (NYSE:JCP), Target (NYSE:TGT), Nordstrom (NYSE:JWN)¬†and Body Central Acquisition Corp. (NASDAQ:BODY).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)