Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Raymond James Trims Ann Taylor Rating


Raymond James downgraded Ann Taylor (ANN ) to market perform from buy.

On Thursday the company posted a 9.6% May same store-sales decline. Analyst Mercedes Sanchez says the downgrade based on valuation, negative industry trends and aggressive Street estimates for the second half. She notes the same-store sales decline is below her estimate of a 1%-3% decline. In light of May's sales results, she cut the $0.30 Q2 EPS estimate to $0.28, trimmed the $2.00 fiscal 2002 estimate (Jan.) to $1.97, and trimmed the $2.37 fiscal 2003 to $2.34. She believes much of the anticipation over an expected comeback already is built into Ann Taylor's current share price.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus