- Comparable store sales to increase 2.3% versus the year-ago period.
- Adjusted net sales to be approximately $287 million compared to $271.8 million in the 13-week period last year. This increase is driven by increased comparable store sales and the inclusion of the 53 rd week, partially offset by operating fewer stores versus the prior year.
- Adjusted gross margin to increase approximately 500 basis points versus the fourth quarter last year. This increase reflects significant improvements in merchandise margin resulting primarily from improved product costs and, to a lesser extent, improved leverage of buying and occupancy expenses.
- Adjusted selling, general and administrative expenses to decrease by approximately 100 basis points as a percentage of net sales compared to the prior year fourth quarter.
- Adjusted operating income to range between $5 million and $6 million. This represents the high end of the Company’s previous guidance of $2 million to $6 million and a significant improvement from last year’s operating loss of $10.8 million.
- The effective tax rate to continue to be approximately 0%.
- Total inventory levels at the end of the fourth quarter of fiscal year 2012 to be down approximately 2% as compared to last year-end. The retail value of in-store inventory per average store is expected to be up low double-digits on a percentage basis from last year to support the Company’s early Spring floorset.
- To end the fiscal year with no borrowings under its credit facility.
New York & Company, Inc. Updates Fourth Quarter Guidance
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