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Ann Inc. Cuts Full-Year Revenue Outlook

By Warren Paige

Specialty retailer for women’s apparels and accessories, Ann Inc. (NYSE: ANN) said on Friday that fiscal second quarter profit rose 16%, aided by higher sales at its Loft and Ann Taylor stores. However, the retailer, just like its peers, slashed the full-year outlook. For the latest period, the adjusted earnings stood at 76 cents a share, comfortably beating analysts’ estimate for 65 cents a share. Revenue rose 7% to $638.2 million but missed Street’s forecast of $639.7 million. For the full-fiscal year, the Company anticipates revenue of $2.52 billion down from earlier projection for $2.54 billion.

August 23rd, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.