Home / Knowledge / News / Apparel/Garments / New York & Company Q1'FY14 net sales dip 3.5% to $219.6mn
New York & Company Q1'FY14 net sales dip 3.5% to $219.6mn
23
May '14
New York & Company, Inc., a specialty apparel chain with 506 retail stores, announced results for the first quarter ended May 3, 2014. For the first quarter of fiscal year 2014, net sales were $219.6 million, as compared to $227.5 million for the first quarter of fiscal year 2013.
 
This includes the impact of 12 fewer stores in operation during the first quarter versus last year, as part of the Company’s on-going real estate optimization strategy. Comparable store sales for the first quarter of fiscal year 2014 decreased 2.2%.
 
Operating income for the first quarter of fiscal year 2014 was $0.1 million which was in-line with the Company’s previously issued guidance and compares to the prior year’s first quarter operating income of $1.2 million.
 
Net loss for the first quarter of fiscal year 2014 was $0.3 million, or breakeven per diluted share. This compares to the prior year’s net income of $1.6 million, or $0.03 per diluted share, which included a $0.6 million income tax benefit related to the reversal of an uncertain tax position. The Company’s income tax provision reflects the continuing impact of its deferred tax valuation allowance.
 
Gregory Scott, New York & Company’s CEO, stated: “First quarter operating income was in-line with our guidance as we diligently managed inventory receipts and expenses. While top-line sales were softer than anticipated, comparable store sales improved during the latter portion of the quarter.
 
"We were especially encouraged that in a tough retail environment we achieved positive comparable store sales in our eCommerce business and in stores in the western part of the country, as well as Florida. We also continue to see great success with the Eva Mendes Collection, particularly in dresses and skirts.”
 
Click here to view full results.
 

New York & Company

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Marcel Alberts
Eurofibers

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

Ashok Desai
Bombay Textile Research Association

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search