New York & Company Q4 Net Sales Down
Posted on: Friday, 8 February 2008, 09:00 CST
New York & Company, a specialty women's apparel chain, has reported total net sales of $359.4 million for the fourth quarter ended February 2, 2008, when compared to $377.3 million for the fourth quarter ended February 3, 2007.
Comparable store sales decreased 3.5% for the 13-week period ended February 2, 2008, as compared to a comparable store sales increase of 1.1% for the 13-week period ended January 27, 2007.
Total net sales for the 52-week fiscal year ended February 2, 2008 were $1.19 billion, a 5% increase, compared to $1.15 billion for the 53-week fiscal year ended February 3, 2007. Comparable store sales decreased 1.3% for the 52-week period ended February 2, 2008, as compared to a decrease of 2.7% for the 52-week period ended January 27, 2007.
Richard Crystal, chairman and CEO, said: "We are reaffirming our fourth quarter guidance and reporting sales results that were in line with our updated expectations. While we expect fiscal year 2008 to remain challenging, we are pleased with the early response to our new spring product and we believe the appeal of our assortments coupled with continued tight control of inventory and expenses have us positioned solidly, as we begin fiscal year 2008."
Source: Datamonitor
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