AnnTaylor profit beats; Shares rise

Women's clothing retailer AnnTaylor Stores beat Wall Street profit expectations, helping to send shares up 1.5%. AnnTaylor, reporting for the 2nd-Q, said it would continue to focus on managing inventory & cut costs, as sales trends likely will improve slightly in the 3rd-Q. Shares rose 1.5% at $13.01 in midday trade on the NYSE after falling as much as 5% in the session. With 2nd-Q earnings beating expectations & shares up 77% since mid-July, Wall Street has high hopes for the operator of the Ann Taylor & Loft chains. "It needs to deliver. Top line trends will be key to the next big move in its stock. Hope