AnnTaylor profit drops, but beats Wall Street expectations

NEW YORK (MarketWatch) — AnnTaylor Stores Corp. said Friday that its second-quarter profit fell to $29.3 million from $31.7 million a year earlier. The per-share number rose to 51 cents a share from 50 cents a year earlier because of a decline in the number of shares outstanding. Sales dropped to $592.3 million from $614.5 million. Excluding restructuring costs, the company said it would have earned 54 cents a share. AnnTaylor was expected to earn 48 cents a share, according to the average estimate of analysts surveyed by FactSet Research. The women’s clothing retailer kept its full-year profit forecast of between $1.80 and $1.90 a share, citing a continued challenging environment.
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