This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New York & Company, Inc. Announces Fourth Quarter And Fiscal Year 2011 Results

New York & Company, Inc. (NYSE:NWY), a specialty apparel chain with 532 retail stores, today announced results for the fourth quarter and full fiscal year ended January 28, 2012 (“fiscal year 2011”).

Fourth Quarter and Fiscal Year Results

For the fourth quarter of fiscal year 2011, net sales were $271.8 million, as compared to $303.2 million for the fourth quarter of fiscal year 2010. Comparable store sales for the fourth quarter of fiscal year 2011 decreased 6.3% compared to an increase of 1.7% in the prior year fourth quarter.

Net loss from continuing operations in the fourth quarter of fiscal year 2011 was $10.9 million, or $0.18 per diluted share, which includes non-cash asset impairment charges totaling $2.2 million. This compares to net income from continuing operations in the prior year fourth quarter of $14.9 million, or $0.24 per diluted share, which included favorable non-operating tax adjustments totaling $2.3 million.

Gregory Scott, New York & Company’s CEO, stated: “While we are disappointed with our fourth quarter results, fiscal 2011 was an important year for our Company. We gained valuable insight about our customer, her lifestyle needs and what drives her purchasing decisions in terms of merchandise, fashion, price points and promotions – all while facing significant cost pressures within our supply chain. We have already begun applying these key learnings to our business planning in 2012.”

Mr. Scott continued: “Our top priority in 2012 is to deliver a significant improvement in our operating performance versus last year and bring us one step closer toward achieving our long-term goal of high single-digit operating margins. To achieve this, we are focused on six keys to success: Maximizing sales and profitability particularly during peak traffic times of the year; increasing our marketing efforts to grow traffic in stores and on-line; maintaining our dominance in wear-to-work, while redefining our casual assortment; improving our average unit cost; optimizing our real estate portfolio; and expanding our growing eCommerce and Outlet businesses.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs