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Loft sales lift Ann Inc.'s 1Q earnings

from The Associated Press via Crain's New York Business

Ann Inc.'s fiscal first-quarter net income rose 5 percent, buoyed by growing sales at Loft, the retailer's more casual, less expensive chain and lower discounting. The women's clothing company, which runs pricier Ann Taylor stores as well as outlets of both its brands, said that it earned $28.7 million, or 58 cents per share, in the three months through April 28. That compares with $27.3 million, or 51 cents per share, a year earlier. more

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