• Net income rose 33% to $24.8m from $18.6m
  • Total sales were up 15% to $558.2m
  • Comparable sales increased 9% 

Women's wear retailer Ann Inc has raised its full-year revenue guidance after a strong performance at its Loft stores contributed to a 33% jump in second quarter profit.

"Our results reflect strong performance at the Loft brand across all channels for the quarter, as clients responded to the assortment of feminine basics and fashion at great value," said president and CEO Kay Krill.  

"We also delivered solid results in the Ann Taylor brand, with strong performance in the e-commerce and factory channels and positive, but softer-than-expected, performance in the stores channel."

By brand, Ann Taylor sales rose 5.2% to $217.9m and the Loft line jumped 23.2% to $340.3m in the three months to 30 July.

Gross margin was 55.0% of net sales, reflecting lower promotional activity at Loft stores and higher promotions at Ann Taylor stores to clear summer lines.

Looking ahead to the third quarter, "we are pleased by client response to our new pre-fall product assortments, and we fully expect to deliver positive comparable sales performance at both brands in all channels," Krill added.

For the fiscal yes, total net sales are expected to approach $2.225bn - an increase of nearly $250m or 12% on the year before - on a same-store sales increase in the mid-single digits.