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

																	Exhibit (1)
New York & Company, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited)
(Amounts in thousands, except per share amounts)			Three months ended October 27, 2012					% of net sales				Three months ended October 29, 2011					% of net sales
Net sales			$	219,250				100.0	%			$	216,708				100.0	%
Cost of goods sold, buying and occupancy costs			158,323					72.2	%			163,198					75.3	%
Gross profit			60,927					27.8	%			53,510					24.7	%
Selling, general and administrative expenses			64,746					29.5	%			59,559					27.5	%
Operating loss			(3,819		)			(1.7	)%			(6,049		)			(2.8	)%
Interest expense, net of interest income			91					0.1	%			122					0.1	%
Loss on modification and extinguishment of debt			—					—	%			144					0.1	%
Loss before income taxes			(3,910		)			(1.8	)%			(6,315		)			(3.0	)%
(Benefit) provision for income taxes			(71		)			—	%			2,656					1.1	%
Net loss			$	(3,839	)			(1.8	)%			$	(8,971	)			(4.1	)%
Basic loss per share			$	(0.06	)							$	(0.15	)
Diluted loss per share			$	(0.06	)							$	(0.15	)
Weighted average shares outstanding:
Basic shares of common stock			61,583									61,134
Diluted shares of common stock			61,583									61,134
Selected operating data:
(Dollars in thousands, except square foot data)
Comparable store sales increase (decrease)			0.7		%							(5.2		)%
Net sales per average selling square foot (a)			$	77								$	74
Net sales per average store (b)			$	408								$	399
Average selling square footage per store (c)			5,291									5,412

			(a)		Net sales per average selling square foot is defined as net sales divided by the average of beginning and end of period selling square feet.
			(b)		Net sales per average store is defined as net sales divided by the average of beginning and end of period number of stores.
			(c)		Average selling square footage per store is defined as end of period selling square feet divided by end of period number of stores.

																	Exhibit (2)
New York & Company, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited)
(Amounts in thousands, except per share amounts)			Nine months ended October 27, 2012					% of net sales				Nine months ended October 29, 2011					% of net sales
Net sales			$	674,676				100.0	%			$	684,619				100.0	%
Cost of goods sold, buying and occupancy costs			491,480					72.8	%			522,195					76.3	%
Gross profit			183,196					27.2	%			162,424					23.7	%
Selling, general and administrative expenses			191,494					28.4	%			187,186					27.3	%
Operating loss			(8,298		)			(1.2	)%			(24,762		)			(3.6	)%
Interest expense, net of interest income			268					—	%			373					0.1	%
Loss on modification and extinguishment of debt			—					—	%			144					—	%
Loss before income taxes			(8,566		)			(1.2	)%			(25,279		)			(3.7	)%
(Benefit) provision for income taxes			(186		)			—	%			2,768					0.4	%
Net loss			$	(8,380	)			(1.2	)%			$	(28,047	)			(4.1	)%
Basic loss per share			$	(0.14	)							$	(0.46	)
Diluted loss per share			$	(0.14	)							$	(0.46	)
Weighted average shares outstanding:
Basic shares of common stock			61,441									60,703
Diluted shares of common stock			61,441									60,703
Selected operating data:
(Dollars in thousands, except square foot data)
Comparable store sales decrease			(0.8		)%							(2.0		)%
Net sales per average selling square foot (a)			$	236								$	230
Net sales per average store (b)			$	1,263								$	1,247
Average selling square footage per store (c)			5,291									5,412

			(a)		Net sales per average selling square foot is defined as net sales divided by the average of beginning and end of period selling square feet.
			(b)		Net sales per average store is defined as net sales divided by the average of beginning and end of period number of stores.
			(c)		Average selling square footage per store is defined as end of period selling square feet divided by end of period number of stores.

											Exhibit (3)
New York & Company, Inc. and Subsidiaries Condensed Consolidated Balance Sheets
(Amounts in thousands)			October 27, 2012				January 28, 2012				October 29, 2011
			(Unaudited)				(Audited)				(Unaudited)
Assets
Current assets:
Cash and cash equivalents			$	23,500			$	50,787			$	20,666
Accounts receivable			9,630				7,269				9,804
Income taxes receivable			466				477				470
Inventories, net			116,278				81,328				120,784
Prepaid expenses			20,983				21,057				20,556
Other current assets			1,124				968				1,335
Total current assets			171,981				161,886				173,615
Property and equipment, net			102,939				115,280				124,051
Intangible assets			14,879				14,879				14,879
Deferred income taxes			4,361				4,361				3,716
Other assets			863				950				1,191
Total assets			$	295,023			$	297,356			$	317,452
Liabilities and stockholders’ equity
Current liabilities:
Short-term borrowings			$	—			$	—			$	12,000
Accounts payable			90,143				72,297				77,718
Accrued expenses			49,686				55,146				46,379
Income taxes payable			426				3,064				2,778
Deferred income taxes			4,361				4,361				3,716
Total current liabilities			144,616				134,868				142,591
Deferred rent			50,702				57,127				59,052
Other liabilities			4,898				5,256				4,954
Total liabilities			200,216				197,251				206,597
Total stockholders’ equity			94,807				100,105				110,855
Total liabilities and stockholders’ equity			$	295,023			$	297,356			$	317,452

								Exhibit (4)
New York & Company, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited)
(Amounts in thousands)			Nine months ended October 27, 2012					Nine months ended October 29, 2011
Operating activities
Net loss			$	(8,380	)			$	(28,047	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization				25,878					29,017
Loss from impairment charges				384					887
Amortization of deferred financing costs				89					148
Write-off of unamortized deferred financing costs				—					144
Share-based compensation expense				2,858					2,865
Changes in operating assets and liabilities:
Accounts receivable				(2,361	)				(48	)
Income taxes receivable				11					57
Inventories, net				(34,950	)				(38,722	)
Prepaid expenses				74					151
Accounts payable				17,846					4,107
Accrued expenses				(5,460	)				(17,823	)
Income taxes payable				(2,638	)				2,518
Deferred rent				(6,425	)				(7,810	)
Other assets and liabilities				(375	)				(1,110	)
Net cash used in operating activities				(13,449	)				(53,666	)
Investing activities
Capital expenditures				(13,921	)				(9,367	)
Net cash used in investing activities				(13,921	)				(9,367	)
Financing activities
Proceeds from borrowings under revolving credit facility				—					12,000
Repayment of debt				—					(7,500	)
Payment of financing costs				—					(393	)
Proceeds from exercise of stock options				83					2,200
Net cash provided by financing activities				83					6,307
Net decrease in cash and cash equivalents				(27,287	)				(56,726	)
Cash and cash equivalents at beginning of period				50,787					77,392
Cash and cash equivalents at end of period			$	23,500				$	20,666

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