Venator, AnnTaylor Beat Profit Estimates

Venator Group Inc. and AnnTaylor Stores Corp. reported better-than-expected earnings for their fiscal first quarter as they benefited from strong consumer spending. Venator, the nation’s largest chain of athletic-shoe stores, including Foot Locker and Champs, posted operating profit of $23 million, or 16 cents a share, up from $1 million, or 1 cent, a year ago. Analysts were expecting earnings of 12 cents. Exclusive products and increased demand in Europe helped boost sales 13% to $1.08 billion, Venator said. AnnTaylor, operator of women’s apparel stores, said profit from operations rose 11% to $16.4 million, or 55 cents a share, as it sold more fashions at full price. The results beat analyst estimates by 2 cents. Sales rose 11% to $277.1 million. Separately, Barnes & Noble Inc. said its loss widened to $4.1 million, or 6 cents a share, from $1.4 million, or 2 cents, a year earlier, on higher spending and losses at its 40%-owned Internet business. Excluding the Internet loss and costs of stock-based pay, Barnes & Noble said it operated at break-even in the quarter, a better performance than the 2-cent loss analysts expected.