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
Apparel/Garments | On 24th Feb 2017
SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...
Textiles | On 24th Feb 2017
The value of textile and garment exports made by Pakistan decreased...
Fashion | On 24th Feb 2017
Google has partnered with British fashion designer Christian Cowan to ...
‘One of the recent trends in hand block printing is the indigo process,...
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
'Worsted wool is the ideal fabric for menswear'
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
About one in every 20 patients picks up an infection while hospitalised....
Coating at a fibre level is a practice not usually seen in the...
Label Ritu Kumar
‘Classics will return’ "There are a lot of people wearing western clothes ...
Somaiya Kala Vidya
Among the many honours showered on Frater, including Fulbright and Ford...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...