AnnTaylor Results Beat Expectations

AnnTaylor Stores Corp. reported a fourth-quarter net loss of $332,000, including $17 million in charges to cover costs from its Internet unit, job cuts and the discontinuation of a cosmetics line.

But the retailer’s operating earnings jumped 95% to $9.95 million, or 34 cents a share, beating by one cent the average estimate of analysts polled by First Call/Thompson Financial. Sales for the quarter ended Feb. 2 rose 8% to $371.4 million, while sales at stores open at least a year were up 2.1%.

The retailer, which specializes in women’s apparel, also said its first-quarter earnings will top Wall Street forecasts , saying more items were selling at full price and inventories were lower than a year ago.

It now expects first-quarter earnings of 52 cents to 54 cents a share, up from a previous forecast of 48 cents to 52 cents. Analysts were expecting 48 cents.

Shares of AnnTaylor rose $1.45 to $41 on the NYSE, before the results were announced.