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New York & Co declares Q2 & six-month results
18 Aug '05
5 min read
The Company anticipates capital spending for the third quarter of fiscal 2005 to approximate $28.0 million, as compared to $20.4 million in the third quarter of fiscal 2004. This increased capital spending is required primarily to support the acceleration of our new store expansion and remodeling activities.
Fourth Quarter
The Company currently estimates net sales for the fourth quarter of fiscal 2005, including sales of its newly acquired JasmineSola stores of $7.5 million, to be in the range of $342.5 million to $350.5 million, an increase of 13.1 percent to 15.8 percent, compared to actual fourth quarter fiscal 2004 net sales of $302.8 million. Included in this estimate is a comparable store sales increase in the range of 5.0 percent to 8.0 percent as the prior year comparable store sales were negative (2.7) percent in the 2004 fourth quarter, and therefore the Company expects higher comparable store sales rates in the current year, as the inventory offering is improved.
The Company anticipates capital spending for the fourth quarter of fiscal 2005 to approximate $9.0 million, as compared to $11.5 million in the fourth quarter of fiscal 2004.
Conference Call Information
A conference call to discuss second quarter of fiscal 2005 results is scheduled for today (Thursday, August 18, 2005) at 9:00 AM Eastern Time. Investors and analysts interested in participating in the call are invited to dial (800) 289-0572 approximately ten minutesprior to the start of the call.
Leading fashion specialty firm New York & Company Inc, founded in 1918, is a leading specialty retailer of fashion-oriented, moderately-priced women's apparel. The company's proprietary branded New York & Company merchandise is sold exclusively through its national network of 492 retail stores in 45 states.
Fourth Quarter
The Company currently estimates net sales for the fourth quarter of fiscal 2005, including sales of its newly acquired JasmineSola stores of $7.5 million, to be in the range of $342.5 million to $350.5 million, an increase of 13.1 percent to 15.8 percent, compared to actual fourth quarter fiscal 2004 net sales of $302.8 million. Included in this estimate is a comparable store sales increase in the range of 5.0 percent to 8.0 percent as the prior year comparable store sales were negative (2.7) percent in the 2004 fourth quarter, and therefore the Company expects higher comparable store sales rates in the current year, as the inventory offering is improved.
The Company anticipates capital spending for the fourth quarter of fiscal 2005 to approximate $9.0 million, as compared to $11.5 million in the fourth quarter of fiscal 2004.
Conference Call Information
A conference call to discuss second quarter of fiscal 2005 results is scheduled for today (Thursday, August 18, 2005) at 9:00 AM Eastern Time. Investors and analysts interested in participating in the call are invited to dial (800) 289-0572 approximately ten minutesprior to the start of the call.
Leading fashion specialty firm New York & Company Inc, founded in 1918, is a leading specialty retailer of fashion-oriented, moderately-priced women's apparel. The company's proprietary branded New York & Company merchandise is sold exclusively through its national network of 492 retail stores in 45 states.
New York & Company Inc
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