Home / Knowledge / News / Fashion / New York & Co's CEO pleased with first quarter results
New York & Co's CEO pleased with first quarter results
23
May '08
New York & Company Inc, a specialty apparel chain with 586 retail stores, announced results for the first quarter ended May 3, 2008.

The results of operations discussed below are for the Company's continuing operations only, the New York & Company brand.

For the first quarter of fiscal year 2008, net sales were $270.1 million, as compared to $274.2 million for the first quarter of fiscal year 2007. Comparable store sales for the first quarter of fiscal year 2008 decreased 6.6%, compared to a 0.7% decrease in the prior year first quarter.

Net income from continuing operations for the first quarter of fiscal year 2008 was $6.7 million, or $0.11 per diluted share, as compared to prior year net income from continuing operations of $5.2 million, or $0.08 per diluted share, representing a 37.5% increase in earnings per diluted share.

Richard P. Crystal, New York & Company's Chairman and CEO, stated: "We are pleased to report better than expected first quarter results. During the period, we maintained our inventory and expense management discipline while providing our customers with compelling fashions across our apparel and accessory categories. At the same time, we eliminated non-brand building promotions.

These strategies, in a difficult consumer environment, proved highly successful for our Company and brand, as evidenced by our increase in gross profit margin and a 37.5% rise in earnings per share for the period. We expect the environment for consumer spending to remain difficult this year and as such will maintain our previously stated strategies.

We expect fiscal 2008 to represent significant accomplishments toward achieving our goals of building brand loyalty, increasing earnings and enhancing value for our shareholders."


Must ReadView All

India to be largest cotton producer in 2018-19: USDA

Textiles | On 22nd Jun 2018

India to be largest cotton producer in 2018-19: USDA

For the fourth consecutive season, India is expected to be the...

Organic Basics gets Polygiene help for advanced underwear

Apparel/Garments | On 22nd Jun 2018

Organic Basics gets Polygiene help for advanced underwear

Danish firm Organic Basics is working with Swedish company Polygiene, ...

Courtesy: Pexels

Textiles | On 22nd Jun 2018

Pakistan's textile exports up 9.82% in July-May FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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