Full year guidance for New York & Co brand reaffirmed
12 Nov '07
2 min read
Additionally, we continue to substantially exceed our expectations for the E-Commerce business. As we begin the fourth quarter, our inventory is down by (6.0)% on an average store basis versus a year ago, and is well under control.
We believe this, as well as diligent expense management, positions us well to continue to maximize profitability and achieve our guidance for the year."
For the New York & Company brand, the Company opened 12 new stores and closed one store during the quarter, ending the quarter with 568 stores and 3.3 million selling square feet in operation.
The Company currently expects net earnings per diluted share for the ongoing New York & Company brand to be at the high end of its previously issued guidance range of $0.03 to $0.07 for the third quarter and within the previously issued guidance of $0.47 to $0.58 for the full year.
The Company expects the JasmineSola brand operating loss and exit costs to be within previously issued guidance ranges. The Company plans to report third quarter results on November 20, 2007.
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