New York & Company total net sales reach $460.7mln in June
07 Jul '06
2 min read
Leading specialty apparel chain with 536 stores announced New York & Company Inc that total net sales for the five-week period ended July 1, 2006 increased 3.1 percent to $93.9 million, as compared to $91.1 million in the prior year period. Comparable store sales decreased 5.5 percent for the five-week period, as compared to a comparable store sales increase of 3.3 percent in the prior year period.
Total net sales for the twenty-two-week year-to-date period ended July 1, 2006 increased 0.6 percent to $460.7 million, as compared to $457.9 million in the prior year period. Comparable store sales decreased 7.5 percent for the twenty-two-week period, as compared to an increase of 3.2 percent in the prior year period.
Richard P. Crystal, Chairman and CEO stated: "June sales were similar to the trend experienced in May. During the month we continued to reduce inventory while maintaining our gross margin within planned levels, which we believe will position us for a successful fall season."
The Company opened three new stores and closed one store in June, ending the month with 536 stores and 3.3 million selling square feet in operation.
New York & Company Inc, founded in 1918, is a leading specialty retailer of fashion-oriented, moderately-priced women's apparel. The Company's proprietary branded New York & Company merchandise is sold exclusively through its national network of retail stores. As of July 1, 2006, the Company operated 536 retail stores in 45 states.
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