Shares of Ann Inc. rose 8.2 percent after the specialty chain reported a 26.2 percent gain in net income in the third quarter, boosted by comparable-store sales growth in both Ann Taylor and Loft and a gross margin rate of nearly 58 percent.
For the three months ended Oct. 27, net income rose to $40.7 million, or 84 cents a diluted share, from $32.3 million, or 61 cents, in the same year-ago quarter. Net sales rose 8.6 percent to $612.5 million from $564 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)