New York & Company, Inc., a specialty apparel chain with 513 retail stores, announced results for the third quarter and nine months ended November 2, 2013.
For the third quarter of fiscal year 2013, net sales were $217.6 million, as compared to $219.3 million for the third quarter of fiscal year 2012.
Comparable store sales for the third quarter of fiscal year 2013 increased 3.0%, with positive comparable sales recorded in each business channel – New York & Company stores, eCommerce, and Outlet stores.
This compares to an increase of 0.7% in comparable stores sales in the prior year’s third quarter.
Selling, general and administrative expenses were managed tightly in the third quarter reflecting decreases to plan in marketing, store expenses, and variable compensation costs. Total selling, general and administrative expenses were down slightly versus the prior year.
Operating loss for the third quarter of fiscal year 2013 narrowed to $3.1 million, from an operating loss of $3.8 million in the prior year third quarter.
Net loss for the third quarter of fiscal year 2013 was $3.4 million, or $0.05 per diluted share, and compares to a net loss of $3.8 million, or $0.06 per diluted share, in the prior year third quarter.