Home / Knowledge / News / Apparel/Garments / New York & Company expects to exceed Q2 FY'12 guidance
New York & Company expects to exceed Q2 FY'12 guidance
16
Jul '12
New York & Company Inc. a specialty apparel chain with 537 retail stores in operation announced that based on quarter-to-date performance and expectations for the balance of the quarter it expects to exceed second quarter fiscal 2012 guidance.

The Company currently expects results for the second quarter ending July 28, 2012 to reflect the following:

Comparable store sales to be up slightly with quarter-end store count reflecting six fewer stores in operation compared to the second quarter of fiscal year 2011.

Gross margin to increase between 400 and 500 basis points from the prior year’s second quarter rate primarily driven by improved product costs combined with reductions in buying and occupancy expenses.

Selling, general and administrative expenses as a percentage of net sales to increase approximately 100 basis points versus the prior year's second quarter reflecting investments in marketing, increases in variable based compensation, and incremental spending necessary to support the Company's growing eCommerce and Outlet businesses.

Operating loss to be in the range of $5 million to $7 million versus an operating loss of $15.1 million in the year-ago period.

Total quarter-end inventories are expected to be down slightly versus the prior year. Inventory per average store is expected to be approximately flat to last year.

Gregory Scott, New York & Company’s CEO, stated: “We are encouraged by our second quarter performance to date which reflects strong product acceptance across our summer assortments, particularly during the Mother’s Day period, and continued progress on our strategic initiatives. As a result, we expect to significantly narrow our second quarter operating loss from last year.”

The Company continues to cite its six keys to success as its drivers toward improved fiscal 2012 results. These include: maximizing sales and profitability particularly during peak traffic times of the year; increasing its marketing efforts to grow traffic in stores and on-line; maintaining dominance in wear-to-work, while redefining its casual assortment; improving average unit cost; optimizing its real estate portfolio; and expanding its growing eCommerce and Outlet businesses.

Further commentary on second quarter results and the Company’s outlook for the third quarter will be provided as part of the Company’s regularly scheduled second quarter earnings release and conference call during the third week of August 2012.

New York & Company, Inc. is a leading specialty retailer of women's fashion apparel and accessories, and the modern wear-to-work destination for women, providing perfectly fitting pants and NY Style that is feminine, polished, on-trend and versatile—all at an amazing value.

New York & Company Inc


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search