Home / Knowledge / News / Apparel/Garments / New York & Company posts disappointing Q4 results
New York & Company posts disappointing Q4 results
16
Mar '12
New York & Company Inc, a specialty apparel chain with 532 retail stores, announced results for the fourth quarter and full fiscal year ended January 28, 2012.

Fourth Quarter and Fiscal Year Results

For the fourth quarter of fiscal year 2011, net sales were $271.8 million, as compared to $303.2 million for the fourth quarter of fiscal year 2010. Comparable store sales for the fourth quarter of fiscal year 2011 decreased 6.3% compared to an increase of 1.7% in the prior year fourth quarter.

Net loss from continuing operations in the fourth quarter of fiscal year 2011 was $10.9 million, or $0.18 per diluted share, which includes non-cash asset impairment charges totaling $2.2 million.

This compares to net income from continuing operations in the prior year fourth quarter of $14.9 million, or $0.24 per diluted share, which included favorable non-operating tax adjustments totaling $2.3 million.

Gregory Scott, New York & Company's CEO, stated: “While we are disappointed with our fourth quarter results, fiscal 2011 was an important year for our Company."

"We gained valuable insight about our customer, her lifestyle needs and what drives her purchasing decisions in terms of merchandise, fashion, price points and promotions – all while facing significant cost pressures within our supply chain. We have already begun applying these key learnings to our business planning in 2012.”

Mr. Scott continued: “Our top priority in 2012 is to deliver a significant improvement in our operating performance versus last year and bring us one step closer toward achieving our long-term goal of high single-digit operating margins.

To achieve this, we are focused on six keys to success: Maximizing sales and profitability particularly during peak traffic times of the year; increasing our marketing efforts to grow traffic in stores and on-line; maintaining our dominance in wear-to-work, while redefining our casual assortment; improving our average unit cost; optimizing our real estate portfolio; and expanding our growing eCommerce and Outlet businesses.”

Click here to read more details:

New York & Company Inc

Must ReadView All

Apparel/Garments | On 29th May 2017

Christopher & Banks Corporation Q1 2017 sales down 11.5%

The net sales of Christopher & Banks Corporation for the first...

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search