New York & Co declares Q2 & six-month results

18 Aug '05

5 min read

The Company's balance sheet included $57.2 million in cash and working capital of $78.2 million at July 30, 2005. Our quarter end inventory was $101.0 million, including $3.4 million of inventory acquired in the acquisition of JasmineSola.

Guidance
The Company is also updating its full year guidance and introducing guidance for the third and fourth quarters as follows:

Fiscal Year 2005
For the full fiscal year, the Company is currently forecasting net sales in the range of $1,125.0 million to $1,137.9 million, including approximately $16.0 million in sales from its recently acquired JasmineSola business from the date of acquisition. This compares to the Company's previous guidance range of $1,117.0 million to $1,135.0 million and actual fiscal 2004 net sales of $1,040.0 million.

For the full fiscal year 2005, capital spending is estimated to be approximately $80.0 million, compared to $54.3 million in fiscal 2004.

Third Quarter
The Company forecasts net sales for the third quarter of fiscal 2005, including expected sales by its newly acquired JasmineSola business of $8.2 million, to be in the range of $257.9 million to $262.8 million, an increase of 6.4 percent to 8.5 percent, compared to actual third quarter fiscal 2004 net sales of $242.3 million. Comparable store sales are estimated to be approximately flat for the quarter, as compared to a comparable store sales increase of 7.0 percent in the third quarter of fiscal 2004.

More RTW Retailwinds, Inc News... More Fashion News - United States Of America...