Shares of AnnTaylor surged nearly 18 percent yesterday after the women’s clothier said fourth-quarter results will be “substantially higher” than last year.

The New York-based company — which is revamping long-dowdy fashions in a bid to lure back customers — didn’t give a specific earnings forecast. But AnnTaylor said business is surging ahead of Wall Street’s estimates on better-than-expected sales and gross margins. Prior to the announcement call options on the stock surged.

AnnTaylor said sales at stores open at least a year were about flat and total sales were about $470 million. Previously, it had forecast a drop in sales from the $462.4 million reported in the third quarter. Analysts, on average, had forecast sales of $453.3 million.