Ann Inc. (New York) reported a 33.4 percent gain in net income for the third quarter, ended October 29, 2011, to $32.3 million from $24.2 million in the year-ago period.
Comparable store sales increased 5.5 percent from the year-ago quarter. Total sales rose to $564 million, compared to $505.3 million in the year-ago quarter.
“Ann Inc.’s Loft brand generated exceptional results, as compelling product and effective marketing drove significantly higher sales and profitability across all Loft channels,” says Kay Krill, president and ceo. While the Ann Taylor brand delivered a “solid performance,” it saw softer-than-expected sales in the stores channel.
Ann Inc. operates about 907 Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores in 46 states, the District of Columbia and Puerto Rico.