Ann Taylor Stores Corp. on Friday said quarterly earnings fell less than expected, and it forecast stronger margins for the rest of the year as inventory levels improve.
The company said profitability suffered in the second quarter ended July 30 as it took markdowns to clear out less-desirable summer merchandise. Net income fell to $7.1 million (10 cents per diluted share) from $30.1 million (41 cents) a year earlier.
