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

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

India’s cotton output projected at 377 lakh bales

Textiles | On 15th Dec 2017

India’s cotton output projected at 377 lakh bales

India’s cotton output in the 2017-18 season is likely to increase by...

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Top executives
Textile industry

The foremost issue is bridging the skill gap

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Bani Batra

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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