Ann Taylor tops estimates, raises view

New York City -- Ann Inc., the operator of Ann Taylor and Loft stores, posted a 21% increase in its fiscal-first-quarter earnings and raised its full-year sales estimate. For the quarter ended April 30, Ann reported a profit of $27.3 million, up from $22.62 million in the prior-year quarter. Sales rose almost 10% to $523.6 million, but margins slipped to 57.3%, against 59% last year. Same-store sales rose 7.8%.