In its second-largest acquisition, Amazon buys the company for $970 million.
The retailer also has a new name: Ann Inc.
All channels grew, but it was clearly e-commerce that grew the fastest for Ann Inc. in 2010.
In conjunction with its year-end earnings report, Ann Taylor Stores Corp. changed the name of the company to Ann Inc.
For the year ended Jan. 29, Ann, No. 122 in the Internet Retailer Top 500, recorded:
- E-commerce sales increased 55.8% to $189.5 million from $121.6 million in 2009.
- Total sales rose year over year 8.8% to $1.98 billion from $1.82 billion.
- Comparable-store sales increased 18.7%.
- Net income was $73.4 million compared with a net loss of $18.2 million in 2009.
Internet Retailer calculates the web accounted for 9.6% of total sales compared with 6.7% in 2009. Internet Retailer also calculates the web accounted for 42.4%—$67.9 million—of $160 million in growth across all channels.
For the fourth quarter, Ann reported:
- E-commerce sales increased 14.2% to $60.4 million from $52.9 million in Q4 2009.
- Total sales rose year over year 9.8% to $515.3 million from $469.1 million.
- Comparable-store sales increased 11%.
- Net income was $7.9 million compared with $410,000 in Q4 2009.
Internet Retailer calculates the web accounted for 11.7% of total sales compared with 11.3% in Q4 2009.