Net sales rise 4.5% in Q3 FY15 at New York & Company

Gross profit was reported to be $63.6 million in the third quarter of last fiscal – a rise of 10.06 per cent – as compared to $57.2 million in the corresponding quarter last fiscal.

Comparable store sales increased 4.9 per cent in the third quarter of fiscal 2015.

Selling, general and administrative expenses were reported to be $68.6 million – a rise of 2.62 per cent – in the third quarter of fiscal 2015 as compared to $66.8 million in the corresponding quarter last fiscal.

Commenting on the results, Gregory Scott, CEO of New York & Company said, “We are pleased to continue our positive momentum from the first half of the year and deliver another solid quarter where we achieved growth across key financial metrics, including increased sales, positive comparable store sales and expansion in gross margin.”

“Our performance highlights the increased connection we are creating with our target consumers,” he said.

For the fourth quarter of fiscal 2015, net sales and comparable store sales are expected to increase by a low single-digit percentage. Gross margin is expected to increase in the range of 50-150 basis points. (MCJ)

Fibre2Fashion News Desk – India