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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New York & Company, Inc. Announces Improved Third Quarter 2012 Results

New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 536 retail stores, today announced results for the third quarter ended October 27, 2012. For the third quarter of fiscal year 2012, net sales were $219.3 million, as compared to $216.7 million for the third quarter of fiscal year 2011. Comparable store sales for the third quarter of fiscal year 2012 increased 0.7% versus a comparable store sales decrease of 5.2% in the prior year third quarter.

Operating loss for the third quarter of fiscal year 2012 was $3.8 million, as compared to an operating loss of $6.0 million in the prior year third quarter.

Net loss for the third quarter of fiscal year 2012 was $3.8 million, or $0.06 per diluted share. This compares to the prior year net loss of $9.0 million, or $0.15 per diluted share, which included a $2.5 million charge to income tax expense related to an additional valuation allowance established resulting from temporary differences identified in an IRS income tax audit that relate to tax years 2002 and prior.

Gregory Scott, New York & Company’s CEO, stated: “Our third quarter results were consistent with our guidance. During the quarter, we improved our top-line, generated positive comparable store sales and expanded our gross margin, which fueled a greater than expected improvement in our operating performance versus the third quarter last year. Our results were driven by continued strength in our wear-to-work business – a core equity of our brand – along with successful events throughout the quarter that were supported by strategic investments in our marketing initiatives.

“Moving forward, we were pleased to start the holiday season with a strong response to our well-planned Black Friday and Cyber Monday events which resulted in sales and margin gains; however this was partially offset by the impact of Hurricane Sandy earlier in the month. While much of the holiday season still lies ahead, we believe we are well positioned to deliver on our goals. We will continue to apply the same disciplines that led to our improved year-to-date results and believe we have compelling merchandising and marketing strategies in place to capitalize on the important holiday season. This year our holiday assortment includes a stronger balance of gifting, fashion, and key items to satisfy our customers’ needs while addressing the broader audience that shops our stores during these peak traffic periods.”

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs