Ann Taylor Stores Corporation saw its net earning soar during the third quarter, thanks to "significantly higher sales".

The company reported net income of $24.2m, or $0.41 per diluted share, in the third quarter of 2010, compared with a net income of $2.1m, or $0.03 per diluted share, in the third quarter of 2009.

Kay Krill, president and chief executive officer, said: "We are extremely pleased with the company's excellent performance for the third quarter of 2010, with earnings for the quarter more than doubling from the year-ago period. The significantly higher sales and near-record gross margin rate reflect another standout quarter at the Ann Taylor brand and improved results at the Loft brand for the third quarter."

Click here to view the company's full third quarter report.