NEW YORK CITY-Women’s clothing retailer Ann Taylor opened 30 new outlets in the third quarter as profits soared 29%, to give the New York chain the best third quarter of earnings performance in the company’s history.

The upscale clothing retailer added seven Ann Taylor stores, 19 Ann Taylor LOFT stores and four Ann Taylor Factory stores to its holdings during the three months ended Oct. 28, increasing the company’s total square footage by 5.4% to 5 million sf from the 4.7 million sf it held in the same period last year.

The firm, which currently operates 856 stores under the Ann Taylor, Ann Taylor LOFT and Ann Taylor Factory banners, said profits jumped 29% in the quarter, aided by an increase in the full-price sale of more suits and dresses along with strong sales at both its brick-and-mortar stores and its online operation.

“We are very pleased with our overall results for the quarter. We achieved significant growth in sales and gross margins, which combined drove the best third quarter earnings performance in our company’s history,” Kay Krill, the company’s president and chief executive officer said in a conference call with analysts.

Net income for the period was $39.3 million, or 54 cents a share, a gain of $9 million from the $30.3 million, or 42 cents a share earned in last year’s third quarter. Analysts had expected profits of 52 cents per share.

Overall sales were also up by 10% to $566.3 million, boosted by the sale of more full-priced items at both its brick-and-mortar stores and its online operation. Comparative store sales at the company’s higher-end Ann Taylor stores and outlets were up 6.1% but were off by 0.9% at the firm’s more casual Loft stores due to sluggish sweater sales, the company said.

For the fiscal year ending in January, Ann Taylor forecast profits of $2.07 to $2.12 per share, to reflect the higher third quarter results. The company previously said that it expected profits of $2.05 to $2.10 per share.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.