A/W 2010 collection @ Ann Taylor's LOFT

NEW YORK, Aug 20 (Reuters) - Women's clothing retailer AnnTaylor Stores Corp (ANN.N) said quarterly sales rebounded at its namesake stores, and it was able to sell more merchandise at full price.

The company posted a 6.1 percent increase in comparable sales, which include online. Sales at stores open at least a year, or same-store sales, rose 19.6 percent at the namesake Ann Taylor chain.

Total sales rose nearly 2.8 percent to $483.5 million, but fell short of analysts' expectations of $503.3 million, according to Thomson Reuters I/B/E/S.

Internet sales also gave the company a boost. At the more casual and less expensive LOFT division, a 54.6 percent jump online revenue made up for a 3.1 percent drop in same-store sales.

The company said it expected total sales of $495 million and a "high-to-mid single digit" percentage increase in comparable sales in the current quarter. For the full year, AnnTaylor expects companywide sales of $1.95 billion, a shade below Wall Street estimates.

Net income was $18.6 million, or 31 cents per share, in the second quarter ended July 31, compared with a year-earlier loss of $18 million, or 32 cents per share.

Excluding a restructuring charge, the company earned 32 cents per share, in line with analysts' forecasts, according to Thomson Reuters I/B/E/S.

Gross margins rose 2.6 percentage points to 55 percent on fewer markdowns at Ann Taylor stores.

During the quarter, the company closed four Ann Taylor and five LOFT stores, and now expects 56 closures across both brands for the year. It now operates nearly 900 stores.

AnnTaylor's board authorized increasing the company's share buyback program to $400 million.

The stock was up 0.8 percent at $15.50 in premarket trading.

(Reporting by Phil Wahba, editing by Gerald E. McCormick and Lisa Von Ahn)