Echoing weather-related woes of many other retailers,
It said it now expects to revenue of
The company said that its revenue from stores open at least a year will be up 3 percent for the quarter, with a 1 percent drop at its Ann Taylor brand and 6 percent increase at its Loft brand. Revenue from stores open at least a year is considered a key indicator of financial performance as it strips away the impact of recently opened or closed stores.
Despite the weaker sales trends, the company said it expects its gross margins for the quarter to be higher than the prior year, suggesting it did not have to do heavier discounting for the most-recent holiday shopping season.
CEO and President
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