Ann Taylor profit tops estimate
NEW YORK (MarketWatch) — Women’s clothing retailer Ann Taylor Stores Corp. said Friday that its fiscal third-quarter profit surged to $24.2 million, or 41 cents a share, from $2.07 million, or 3 cents, a year earlier, when it had a charge of 17 cents a share. Sales in the quarter ended Oct. 30 rose to $505.3 million from $462.4 million. Excluding restructuring charges of 1 cent a share, Ann Taylor earned 42 cents a share in the most recent quarter. Analysts surveyed by FactSet had estimated profit of 34 cents a share on sales of $492.8 million. The company forecast fourth-quarter comparable sales rising in the mid-to-high single digit.
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