New York & Co.
Shares of New York & Co. (NWY) edged up in the extended session after the women's fashion apparel retailer reported a narrower than anticipated loss for the fourth quarter.
The company reported a net loss from continuing operations of $10.9 million, or 18 cents a share, on sales of $271.8 million for the three months ended Jan. 28. These results include the impact of a non-cash asset impairment charges of $2.2 million.The average estimate of analysts polled by Thomson Reuters was for a loss of 21 cents a share on revenue of $275 million. "While we are disappointed with our fourth quarter results, fiscal 2011 was an important year for our Company," said Gregory Scott, the company's CEO, in a press release. "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." For the first quarter, New York & Co. said it expects same-store sales to be down in the low single digits on a percentage basis, noting that it anticipates it will have 11 fewer stores in operation during the quarter than it did a year ago. The stock was last quoted at $3.50, up a penny, on volume of around 15,000, according to Nasdaq.com. Check out TheStreet's quote page for New York & Co. for year-to-date share performance, analyst ratings, earnings estimates and much more. Also seeing a mild bounce in late action was Dole Food (DOLE), whose stock added 2.3% to $10.20 on volume of more than 17,000 after the food company reported adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $53 million for its fiscal fourth quarter, up from $31 million in the same period a year earlier. -- Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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