UPDATE: Ann Reports Upbeat Q1 Profit

Ann Inc ANN released its results for the first quarter on Friday. Ann's quarterly profit surged to $27.3 million, or $0.51 per share, from $22.6 million, or $0.38 per share, in the year-earlier period. Its sales surged to $523.6 million from $476.2 million. However, analysts were expecting a profit of $0.48 per share on sales of $512.1 million. Its comparable sales climbed 7.8%. Ann shares fell 5.63% to $28.50 in pre-market trading. Read more from Benzinga's Company news.