New York & Co Feb. total sales, same-store sales dip
02 Mar '06
3 min read
For the first quarter of fiscal 2006, the company currently forecasts net sales in the range of $277.0 million to $282.0 million. Same-store sales are estimated to be negative 4.0 percent to 6.0 percent for the quarter, compared to the company's previous guidance range of an increase between 1.5 percent to 3.5 percent and a same-store sales increase of 3.9 percent in the first quarter of fiscal 2005.
The company plans to open 12 to 15 new stores and close one store during the first quarter of fiscal 2006, ending the quarter with 530 to 533 stores and approx. 3.3 million selling square feet in operation.
For the fiscal year, the company currently forecasts net sales in the range of $1,237.0 million to $1,253.0 million. Same-store sales are estimated to increase between 1.5 to 3.0 percent for the full fiscal year, compared to the company's previous guidance range of an increase between 2.1 to 3.5 percent and a same-store sales increase of 3.2 percent in fiscal 2005.
The company continues to plan to open 50 to 60 new stores and close seven stores during the fiscal year, ending the year with 562 to 572 stores in operation and approx. 3.4 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.
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