Women's clothing retailer AnnTaylor Stores Corp. said Thursday that same-store sales fell 1.7 percent, a smaller drop than analysts expected, helped by results at its Loft stores.
For the four-week period ending March 1, same-store sales fell 8.7 percent at Ann Taylor stores and rose 2.8 percent at Ann Taylor Loft stores.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance, because it measures growth at established stores rather than from newly opened ones.
Analysts surveyed by Thomson Financial expected same-store sales to fall 3.6 percent.
Total sales rose 3.9 percent to $141.4 million from $136.1 million last year.
In a statement, Ann Taylor President and Chief Executive Officer Kay Krill said results reflected a weak women's apparel environment. The company marked down clothes at Ann Taylor stores to reduce inventory.
