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New York & Company Inc announces July sales results

05
Aug '05
New York based announced specialty lifestyle brand New York & Company Inc total net sales for the four-week period ended July 30, 2005 increased 2.0 percent to $66.7 million, compared to $65.4 million in the prior year period. Comparable store sales decreased 3.9 percent for the four-week period, compared to a comparable store sales increase of 10.6 percent in the prior year period.

Total net sales for the thirteen week period ended July 30, 2005 increased 4.9 percent to $254.6 million, as compared to $242.8 million in the prior year period. Comparable store sales increased 0.4 percent for the thirteen week period, compared to a comparable store sales increase of 14.1 percent in the prior year period.

Total net sales for the twenty six-week period ended July 30, 2005 increased 6.0 percent to $524.6 million, as compared to $494.9 million in the prior year period. Comparable store sales increased 2.3 percent for the twenty six-week period, compared to a comparable store sales increase of 14.1 percent in the prior year period.

Richard P. Crystal, Chairman and CEO stated: "While fall product sales showed an increase over the prior year, this was not enough to offset the decline in volume created by low levels of clearance merchandise versus July 2004. The month was disappointing from a sales volume perspective, however, they expect their profits will be at the mid-point of their previously stated guidance. They believe their fashion is on target for customer, accessories business continues to have positive comparable store sales, new stores continue to perform above expectations, and they look forward to late August/early September when our customer begins to shop in earnest for her fall wardrobe."


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