full text:
Company Reports 4th Quarter Performance and Provides Guidance for Fiscal 2007
Company Outlines Growth Initiatives
Board of Directors Authorizes $300 Million Share Repurchase Program
AnnTaylor Stores Corporation (NYSE:ANN) today reported its results for the fourth quarter and fiscal year 2006 ending February 3, 2007. Diluted earnings per share for the quarter were $0.31 and, for the year, diluted earnings per share reached a record level of $1.98. Net sales for the quarter were up 6% and, for the year, net sales advanced 13% to a record level of $2.3 billion.

                     Fiscal 2006 Full Year Highlights

  -- Grew net sales 13% to $2.3 billion on a 2.8% gain in comparable store
     sales

  -- Expanded gross margin by 2.8 points to 53.7% of net sales

  -- Increased both net income and diluted EPS by 75% to $143 million and
     $1.98, respectively

  -- Repurchased nearly five million shares of common stock at a total cost
     of approximately $180 million

  -- Successfully transitioned Factory stores to a full-price destination,
     establishing a third highly-profitable and rapidly-growing store format

  -- Expanded the store base, with 70 new store openings and 25 closures,
     and updated an additional 63 Ann Taylor stores via the Company's
     rebranding program

Commenting on the results of the year, Ann Taylor President & Chief Executive Officer Kay Krill stated, "Fiscal 2006 was a year of record financial performance and accomplishment for the Company. We continued to strengthen and grow our brands, improve our gross margin, and increase our supply chain efficiency and effectiveness. We successfully managed through a tough fourth quarter, given the impact of the unseasonably warm weather across much of the country and a fashion miss at LOFT, and we have entered fiscal 2007 determined to build on the progress we made in 2006 to deliver another year of record financial performance."
Source: AnnTaylor Stores Corporation
For more information visit: http://www.anntaylor.com/

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