Apparel retailer Ann Inc. (ANN) — owner of the Ann Taylor brand — became the latest retailer to indicate that the holiday season will be far from jolly. Sales in the current quarter are expected to be $640 million, below the $646 million consensus forecast.
Ann expects yearly sales at $2.51 billion versus an August forecast of $2.515 billion. Like other CEOs, Ann’s Kay Krill blamed the “challenging and highly promotional retail environment.” Not surprisingly, shares fell today.
ANN, though, has plenty of company.