New York & Company July same-store sales drop 0.1%
03 Aug '06
2 min read
New York & Company Inc, a specialty apparel chain with 537 stores, announced that total net sales for the four-week period ended July 29, 2006 increased 6.9% to $71.3 million, as compared to $66.7 million in the prior year period.
Comparable store sales decreased 0.1% for the four-week period ended July 29, 2006, as compared to a comparable store sales decrease of 3.9% in the prior year period.
Total net sales for the thirteen-week period ended July 29, 2006 increased 4.0% to $264.9 million, as compared to $254.6 million in the prior year period. Comparable store sales decreased 4.0% for the thirteen-week period ended July 29, 2006, as compared to an increase of 0.4% in the prior year period.
Total net sales for the twenty-six-week year-to-date period ended July 29, 2006 increased 1.4% to $532.0 million, as compared to $524.6 million in the prior year period. Comparable store sales decreased 6.7% for the twenty-six-week year-to-date period ended July 29, 2006, as compared to an increase of 2.3% in the prior year period.
Richard Crystal, Chairman and CEO stated: "Our July sales trend improved as our customers responded more favorably to our assortments. We believe we are well positioned to capitalize on fall trends."
The company opened two new stores and closed one store in July, ending the month with 537 stores and 3.3 million selling square feet in operation.
The company also noted that it expects second quarter earnings to approximate the mid-point of its previous guidance range of $0.08 to $0.12 per diluted share, as stated in its May 18, 2006 press release, which is available on the company's website at www.nyandcompany.com. It plans to issue full results for its second quarter of fiscal year 2006 on August 17, 2006.
New York & Company Inc, founded in 1918, is a leading specialty retailer of fashion-oriented, moderately-priced women's apparel.
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