Ann Inc. reports increased Q4, FY s ales
Women's apparel retailer Ann Inc.'s Q4 net sales rose from $623.3m in fiscal 2013 to $647.4m in 2014, the company announced today. Comparable sales for the quarter increased 1.0% on top of an increase of 2.9% in the fourth quarter of 2013.
For the full fiscal year, total net sales reached $2.53bn, up from $2.49bn in fiscal 2013. Comparable full-year sales decreased 1.9%. The company reported 2014 earnings per diluted share of $1.46 on a GAAP basis. Excluding charges and costs, earnings per diluted share would have been $1.94, compared with earnings per diluted share of $2.19 for the full year of fiscal 2013.
Kay Krill, President and Chief Executive Officer, commented, "Despite a highly promotional and competitive environment, ANN INC. achieved positive comparable sales and effectively managed expenses in the fourth quarter, generating bottom-line results that came in slightly ahead of the outlook we provided in November. In addition, we delivered on our commitment to clear excess inventory, entering fiscal year 2015 in a healthy position in all channels."
"While we are disappointed that we could not achieve a sixth consecutive year of EPS growth in 2014, I am pleased with how our team responded to the many challenges we faced during the year and we are fully committed to restoring positive growth and momentum over the course of 2015."
Ann Inc. expects Q1 2015 net sales to be $605m. For full fiscal 2015, Ann Inc. predicts net sales to be $2.565 billion, reflecting a total Company comparable sales increase in the low-single digits.
Copyright © 2021 FashionNetwork.com All rights reserved.