Chuan Ann Taylor Parent Company Will Sell Ann

In October, Ann Inc. signed a confidentiality agreement with Golden Gate Capital Corp.. Analysts said the agreement meant the possibility of the sale of Ann Inc..

Recently, the United States retail industry came to the news that the country.

Ann Taylor parent Inc. Ann (NYSE:ANN) is close to being fully purchased by its largest single shareholder and private Holdings Company Golden Gate Capital Corp. with an estimated value of about $2 billion.

Ann Inc (NYSE:ANN) rose 8% to 40.35 dollars on Thursday, 2 billion dollars.

Compared to yesterday's closing price, the market value of the US $1 billion 720 million premium was 16%.

In March Corp.2014 disclosed that it had held the Ann Inc. (NYSE:ANN) 9.56% share as the largest shareholder, and regarded Ann Inc. as a long-term investment object without intention to divest.

Ann Inc. has been prompted to sell since August of last year. Its minority holders, Engine Capital LP and Red Alder LLC, have been hoping to sell the company. However, under the help of Golden Gate Capital, we have invited Mr. Morgan & Co., Ltd. to seek strategic options including sale.

Reuters quoted sources as saying that the two sides are now conducting one to one in-depth negotiations, and the paction may be finalized next week.

As of the end of the fourth quarter, Ann Inc. has 1025 stores in the United States and Canada.

The retail market in the United States has become difficult in recent years. Ann Inc. has also been battered by fierce competition, high promotion environment and weak public consumption. However, the group's performance in the four quarter ended in January 31, 2015 was strong, adjusted earnings per share recorded $0.12, far exceeding the market expected loss of $0.03 per share.

Same store sales increased by 1%, total revenue increased by 3.9%, from 623 million 300 thousand US dollars in the same period last year to 647 million 400 thousand US dollars.

In the 2014 fiscal year, Ann Inc. adjusted earnings per share for us $1.94, the previous year was US $2.19, and revenue grew by 1.6% to US $2 billion 533 million 500 thousand.

The Group expects to earn $605 million in the first quarter of fiscal year 2015, which is basically in line with analysts' expectations of $605 million 800 thousand. Meanwhile, it expects us $2 billion 565 million in fiscal 2015, slightly lower than analysts' expectations of 2 billion 600 million US dollars. We expect 52% gross margin in 2015 fiscal year and low single digit growth in same store sales.