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Ann Taylor Releases 4Q, Year-End Results
March 12, 2010
New York-based Ann Taylor Stores Corporation released its fiscal fourth quarter and annual results for the year ending January 30, 2010. Net sales were $469.1 million, compared with $483.4 million for the same time period last year. Comparable store sales remained flat, coming in at a negative 0.6 percent, while gross margin as a percentage of sales was 52.5 percent. Selling, general and administrative expenses decreased by $24 million, or 9 percent, from the same time period last year. Net sales for the full 2009 fiscal year were $1.8 billion, versus $2.2 billion last year. Comparable store sales dropped 17.8 percent, while gross margin increased to 54.4 percent. Selling, general and administrative expenses decreased by $84 million or 8 percent. Ann Taylor Stores operates 907 locations in 46 states, the District of Columbia and Puerto Rico under the Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet store brands.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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