NEW YORK (
New York & Company
is turning to outlets for growth.
The women's retailer said it plans to roll out 20 to 25 outlet stores in 2010 after favorable response to an initial test project.
"The launch of our outlet store strategy... allows us to enter a highly productive channel of distribution with significant growth potential," Chief Executive Richard Crystal said in a statement.
Crystal says he expects the stores to be profitable in their first full year of operation.
New York & Company also provided more details on its fourth-quarter outlook, predicting earnings between 4 cents and 6 cents a share. Analysts are expecting earnings of 6 cents a share.
New York & Company Succession Plan in Place
-- Reported by Jeanine Poggi in New York.
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