PayPal posts another quarter with double-digit revenue growth. PayPal may soon be a payment option for shoppers on Chinese international marketplace AliExpress.
Ann Taylor brand e-commerce grew 47%.
Ann Inc., formerly known as Ann Taylor Stores, keeps on racking up the web sales.
For the first quarter ended April 30, Ann, No. 95 in the Internet Retailer Top 500 Guide, reported:
- Total web sales increased 36.3% to $57.8 million from $42.4 million in the first quarter of 2010.
- E-commerce sales for the Ann Taylor brand grew year over year 46.8% to $29.5 million from $20.1 million.
- E-commerce sales for the Loft brand grew year over year 31.6% to $28.3 million from $21.5 million.
- Total sales increased 10% to $523.7 million from $476.2 million in the first quarter of 2010.
- Comparable-store sales increased 7.8%.
- Net income rose year over year 20.8% to $27.3 million from $22.6 million.
Internet Retailer calculates the web accounted for 11.0% of total sales compared with 8.9% in the first quarter of 2010.
“Ann delivered a very strong first quarter performance, achieving significant double-digit growth in sales, earnings and earnings per share,” says CEO Kay Krill.