Publish date:

New York & Co. Guides Lower

The fourth quarter beats targets, though.
Author:

New York & Co. (NWY) beat fourth-quarter earnings targets but guided below the Wall Street consensus for the first quarter and year.

The fashion retailer also said it will stop providing monthly same-store sales comparisons in favor of quarterly ones.

For the quarter ended Feb. 3, New York made $24 million, or 40 cents a share, up from the year-ago $21 million, or 36 cents a share. Sales rose 11% from a year ago to $390 million, as same-store sales rose 1.2%.

Analysts surveyed by Thomson Financial were looking for a 38-cent profit on sales of $391 million.

TST Recommends

The company guided to earnings to 11 to 14 cents a share for the first quarter and 85 to 95 cents a share for the year. Analysts were looking for 15 cents for the quarter and 95 cents for the year.