AnnTaylor Stores Corp. posted a 4 percent rise in third-quarter earnings, but slashed its full-year forecast because of economic uncertainty.
For the three months ended Nov. 3, earnings increased to $40.8 million, or 66 cents a diluted share, from $39.3 million, or 54 cents, in the year-ago period. The company said the growth in earnings is due partly to the benefit of its share repurchase program. Sales for the quarter climbed 6 percent to $600.9 million from $566.3 million last year, while total same-store sales fell 0.4 percent. By division, comps at Ann Taylor declined 4.4 percent and Loft dipped 0.3 percent.
For the nine-month period, earnings fell 14.4 percent to $103.9 million, or $1.61 a diluted share, from $121.5 million, or $1.67, in last year's period. Sales jumped 3.6 percent to reach $1.8 billion from $1.73 billion.
"Traffic trends were particularly soft in the month of October and notwithstanding the improvement we experienced in early November with the onset of cold weather, we have tempered our outlook somewhat for growth in the fourth quarter," Kay Krill, president and chief executive officer, said in a statement.
The women's apparel retailer reduced its full-year earnings outlook to a range of $2.05 to $2.15 a diluted share, from a previous range of $2.15 to $2.25.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
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Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews