The women's retailer said it plans to roll out 20 to 25 outlet stores in 2010 after favorable response to an initial test project.
"The launch of our outlet store strategy... allows us to enter a highly productive channel of distribution with significant growth potential," Chief Executive Richard Crystal said in a statement.
Crystal says he expects the stores to be profitable in their first full year of operation.New York & Company also provided more details on its fourth-quarter outlook, predicting earnings between 4 cents and 6 cents a share. Analysts are expecting earnings of 6 cents a share.
|New York & Company Succession Plan in Place|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV