The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Ann Inc. (ANN) on Friday reported fiscal first-quarter profit of $13.6 million.
The New York-based company said it had profit of 29 cents per share. Earnings, adjusted for restructuring costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The women's apparel retailer posted revenue of $597.7 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $606.4 million.
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For the current quarter ending in July, Ann Inc. said it expects revenue in the range of $660 million.
The company expects full-year revenue of $2.56 billion.
Ann Inc. shares have increased 29 percent since the beginning of the year. The stock has risen 22 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.