Home / Knowledge / News / Apparel/Garments / Sales down marginally at New York & Company in Q2 FY'12

Sales down marginally at New York & Company in Q2 FY'12

20
Aug '12
New York & Company Inc. a specialty apparel chain with 537 retail stores, announced results for the second quarter ended July 28, 2012. For the second quarter of fiscal year 2012, net sales were $227.7 million, as compared to $228.6 million for the second quarter of fiscal year 2011. Comparable store sales for the second quarter of fiscal year 2012 were flat versus a comparable store sales decrease of 3.4% in the prior year second quarter.

Operating loss for the second quarter of fiscal year 2012 was $4.4 million, reflecting a significant improvement from the prior year’s second quarter operating loss of $15.1 million.

Net loss for the second quarter of fiscal year 2012 narrowed to $4.3 million, or $0.07 per diluted share. This compares to the prior year net loss of $15.4 million, or $0.25 per diluted share.

Gregory Scott, New York & Company’s CEO, stated: “Our second quarter operating results reflect a significant improvement from last year driven by continued progress on our strategic initiatives – our six keys to success. Enhancements made to our summer merchandise assortments combined with compelling event-driven promotions led to flat comparable store sales for the quarter, despite less than optimal levels of inventory.

“We also benefited from improved product costs, while generating savings in both our buying and occupancy costs and reductions in our planned level of SG&A expenses. We remain encouraged by our multi-channel growth initiatives – Outlet and eCommerce – which continue to increase as a percentage of our overall business while contributing to the bottom line.”

Click here to read more details:

New York & Company Inc


Must ReadView All

Pic: Max421 | Dreamstime.com

Textiles | On 26th Nov 2021

China to focus on high-quality development of foreign trade

China will focus on high-quality development of foreign trade during...

Pic: Diony Teixeira | Dreamstime.com

Textiles | On 26th Nov 2021

Bangladesh’s GDP base year updated from 2005-06 to 2015-16

The size of Bangladesh’s gross domestic product (GDP) in fiscal...

Pic: The University of Huddersfield/Camira Fabrics

Textiles | On 26th Nov 2021

UK university finds natural solution for fabric fire safety problem

The University of Huddersfield has collaborated with UK textiles firm ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

G Tumbarello,

G Tumbarello

Lilly + Sid is an award-winning organic children's clothing company from...

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

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


November 2021

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


Advanced Search