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Ann Inc. Reports Double-Digit Sales Growth

Focus on Loft expansion; taking brand to Canada




Ann Inc. (New York) reports second-quarter sales increased 15 percent and sale-store sales grew 8.6 percent. Total net sales for the second quarter were up $558.2 million, compared with net sales of $483.5 million in the 2010 period.

The company is converting its Ann Taylor stores to a smaller, more productive prototype of 3700 to 4200 square feet, with about 20 stores in place by the end of the second quarter, reports Women’s Wear Daily. The retailer is on track to roll out 45 in 2011.

“In new concept stores, we’re seeing more higher-priced selling because the stores look and feel elevated aesthetically,” Kay Krill, president and chief executive officer of Ann Inc., told WWD.

Comp sales at Ann Taylor rose 5 percent in the second quarter, with gains of 32 percent in e-commerce, 7 percent in factory outlets and 1 percent in the stores channel. At its Loft’s division, comps were up 11 percent, or 9 percent in stores, 34 percent in e-commerce and 24 percent in outlets.

The company is pushing its factory division with 11 new Loft units in the second quarter, for a total of 72 outlet units. Twenty new Loft factory outlets are planned per year.

The company says it’s also exploring Canada, with plans to expand there later this year, reports WWD.




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