Ann Q3 Results Top Estimates; But Sees Q4 Net Sales Below View - Quick Facts

(RTTNews) - Women's apparel retailer Ann, Inc. (ANN) reported that its third-quarter of 2013 net income increased to $41.19 million from $40.75 million in the third quarter of 2012. Earnings per share was $0.89, compared with $0.84 in the third quarter of 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Earnings per share for the fiscal third quarter of 2012 included a one-time $0.08 per share benefit related to the recognition of gift card and merchandise credit breakage, without which, diluted earnings per share was $0.76.

Total net sales for the third quarter of fiscal 2013 were $657.5 million, an increase of 7% compared with total net sales of $612.5 million in the third quarter of fiscal 2012. Seventeen analysts had consensus revenue estimate of $654.22 million for the quarter. Total Company comparable sales for the quarter increased 3.7%, on top of an increase of 5.5% in the third quarter of 2012.

For the fiscal fourth quarter of 2013, the Company expects total net sales to be $640 million, reflecting a total Company comparable sales increase in the mid-single digits. Analysts expect the company to report revenues of $646.23 million for the fourth-quarter.

For fiscal 2013, the Company currently expects total net sales to be $2.510 billion, reflecting a total company comparable sales increase in the low-to-mid-single digits. Analysts expect the company to report revenues of $2.51 billion for fiscal 2013.

The company said in August that it anticipated total net sales to be $2.515 billion, reflecting comparable sales increase in the mid-single digits for fiscal 2013.