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Laura Weil Joins New York & Company As EVP, Chief Operating Officer

New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 541 retail stores in operation as of May 17, 2012, today announced that Laura Weil has joined the Company, as Executive Vice President, Chief Operating Officer, effective immediately. Ms. Weil, an Executive Consultant of New York & Company since February 1, 2012, will continue to report to Greg Scott, Chief Executive Officer, and lead the Company’s Planning & Allocation, Sourcing, Product Life Management, Real Estate, and Information Technology areas.

“We are pleased to have Laura join our Company in a permanent position on our executive team,” stated Greg Scott, New York & Company’s CEO. “Laura is a talented leader with a proven turnaround record in women’s retail. In her short time with our organization, Laura has been an effective business partner to me and our entire executive team. She has already made valuable contributions to our business processes and in several key operational areas including our merchandise planning process. Importantly, she shares our vision and corporate values making her a natural fit for this key role. With this addition, we have assembled a strong leadership team across all areas of our Company from design to merchandising, marketing, operations, finance, and human resources. We expect the combined efforts of our executive team to position our Company for improved operating performance and positive long term growth.”

Ms. Weil joins New York & Company following a successful career in retail and investment banking spanning more than 25 years. Laura’s extensive experience includes financial and operational roles with an emphasis on women’s specialty apparel retail. Prior to joining New York & Company, she was Chief Executive Officer of Ashley Stewart, a fashion apparel and accessory retailer for women, from 2008 to 2011. Before that, Ms. Weil served as Chief Operating Officer and Senior Executive Vice President of Ann Taylor Corporation. From 1995 to 2005, she spent ten years as Chief Financial Officer and Executive Vice President of American Eagle Outfitters. Ms. Weil has held various consulting positions throughout her career and began her career at Lehman Brothers as a corporate finance analyst.

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