Ann Taylor comparable sales declined 1%

Ann Taylor comparable sales declined 1%

Women's apparel group Ann Inc has cut its fourth-quarter sales forecast on the back of weak traffic and consumer spending.

In an update today (6 February), the company said it estimates sales of US$623m for the quarter, down from its $640m forecast in November.

It added that it expects to report a gross margin of around 49.2%. This compares to 49.1% reported last year.

The group's Ann Taylor brand saw total comparable sales decline 1% in the quarter, while Loft comparable sales rose 6%.

"Soft traffic and tepid consumer spending across the industry negatively impacted us, particularly in factory outlet centres and geographic regions that experienced extreme winter weather," said CEO Kay Krill.