New York & Comp September net sales gains 9.2 % to $114.6mn
05 Oct '06
2 min read
Leading specialty apparel chain with 548 stores New York & Company announced that total net sales for the five-week period ended September 30, 2006 increased 9.2 percent to $114.6 million, as compared to $104.9 million in the prior year period.
Comparable store sales increased 2.3 percent for the five-week period, as compared to a comparable store sales decrease of 0.4 percent in the prior year period.
Total net sales for the thirty-five week year-to-date period ended September 30, 2006 increased 3.0 percent to $723.3 million, as compared to $702.3 million in the prior year period. Comparable store sales decreased 4.6 percent for the thirty-five week period, as compared to an increase of 0.1 percent in the prior year period.
Richard P. Crystal, Chairman and CEO stated: "We are pleased with our performance for September as sales were up 2.3 percent on a comparable store basis versus a highly promotional month the prior year. Our offerings resonated well with our customers across key merchandising categories generating significantly higher margins than last year. As a result, we expect third quarter diluted earnings per share to be at the high end of our previously issued earnings guidance range."
Mr. Crystal added: "We are encouraged with the progress of our initiatives in design and merchandising and the positive impact of our celebrity marketing campaign featuring Grey's Anatomy stars Ellen Pompeo and Patrick Dempsey. Ellen and Patrick, better known as Meredith Grey and Derek 'Dr. McDreamy' Shepherd, have been a pleasure to work with and we are excited to announce that we will continue to use both for our Holiday 2006 advertising campaign."
New York & Company is a leading specialty retailer of fashion-oriented, moderately-priced women's apparel. The Company's proprietary branded New York & Company (TM) merchandise is sold exclusively through its national network of New York & Company retail stores.
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