Ann Taylor and Loft through the last 2 years of the change for growth strategy laid out by management in late 2017 Just like I laid out Justice so you can see the slimming down, cutting costs closing under-performing stores and those in over-saturated areas, gives look along with Justice of the lean company that will be there after Lane Bryant Catherine's sale.
Oh and with an extra $500-600 million to boot.
Ann Taylor and Loft
Q1 2018
1001 stores $555.1 mil
Q1 2019
975 stores $596.0 mil
Q2 2018
988 stores $609.6 mil
6 months...$1,164.7 bil
Q2 2019
980 stores $638.9 mil Q2 and beginning Q3 hit retail sector hardest
6 months...$1,234.9 bil
Q3 2018
980 stores $532.7 mil
9 months...$1,697.4 bil
Q3 2019
964 stores $549.5 mil
9 months...$1,784.4 bil
10K 2018
976 stores $2,317.8 bil
10K 2019
??
So YoY they are 87 million dollars ahead in revenues with 44.8 million in profits at 9 months in for the Fashion Line and they wonder why I look at them with two heads. Sold Maurice's will start getting 49% of profits this Q and going forward and share in the sale after it is done with streamlining and profit build. Justice turned around Revenues virtually flat down $2 million in revenues with 63 less stores and growing stronger by the month.
Closing Dress Barns at a steady clip to have all closed during the best Q there is for sales in a year estimated to have 4-5% higher sales YoY no BK looming with Lane Bryant/Catherine's/Cacique sale ahead and they have the temerity to say it's worth a quarter? Okay, well alrighty then, you go with that, tick tock.
Comp sales WTF does that have to do with anything, less stores lower costs making more revenues and profit, $300 million in hand debt interest payment paid in advance for next 12 months and a stock buyback program authorized to buy back enough in dollar value to buy the market cap 3 1/2 times over with two of the largest insider holders on the board and they say it will RS? Everything else at this price is meaningless to me. Talk to the hand.
That's why I say, number crunchers, at this point they should stay in their office in the basement. Will come get them when it's time.
