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New York & Co posts Q2 results for 2007

23
Aug '07
New York & Company Inc, a specialty apparel chain with 580 stores announced results for the second quarter ended August 4, 2007.

For the second quarter of fiscal year 2007, net sales increased 11.2% to $294.4 million, as compared to $264.9 million in the second quarter of fiscal year 2006. Comparable store sales for the second quarter of fiscal year 2007 increased 4.7%, compared to a 4.0% decrease in the prior year second quarter.

Net income in the second quarter of fiscal year 2007 was $3.5 million, or $0.06 per diluted share, inclusive of a loss of $0.03 per diluted share in the JasmineSola brand. This compares to net income in the prior year period of $6.5 million, or $0.11 per diluted share, inclusive of a loss of $0.01 per diluted share in the JasmineSola brand. Earnings per share are based on fully diluted shares outstanding of 61.0 million for the second quarter of fiscal year 2007, compared to 59.9 million for the second quarter of fiscal year 2006.

For the six month period ended August 4, 2007, net sales increased 8.7% to $578.4 million, as compared to $532.0 million for the six months ended July 29, 2006. Comparable store sales for the six month period ended August 4, 2007 increased 1.7%, compared to a 6.7% decrease in the prior year period.

Net income for the six month period ended August 4, 2007 was $4.3 million, or $0.07 per diluted share, inclusive of a loss of $0.10 per diluted share in the JasmineSola brand. This compares to net income in the prior year period of $12.6 million, or $0.21 per diluted share, inclusive of a loss of $0.01 per diluted share in the JasmineSola brand.


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