Apparel chain New York & Company has announced financial results for the fourth quarter and for the full fiscal year ended January 28th 2006.
The net sales for the fourth quarter of fiscal 2005 increased 16.1 percent to $351.6 million as compared to $302.8 million in the fourth quarter of fiscal 2004. Comparable store sales for the fourth quarter increased 9.6 percent, compared to a 2.7 percent decrease in the prior year fourth quarter.
Gross profit for the fourth quarter of fiscal 2005 increased to $111.7 million, or 31.8 percent of net sales, compared to $99.6 million, or 32.9 percent of net sales, in the fourth quarter of fiscal 2004.
The net income in the fourth quarter of fiscal 2005 was $20.6 million compared to $18.0 million in the fourth quarter of fiscal 2004.
The net sales for the full 2005 fiscal year increased 8.7 percent to $1,130.5 million from $1,040.0 million in the full 2004 fiscal year. Comparable store sales for fiscal 2005 increased 3.2 percent, compared to a 7.2 percent increase in fiscal 2004.
Gross profit for fiscal 2005 increased to $366.5 million, or 32.4 percent of net sales, compared to $357.1 million, or 34.3 percent of net sales, in fiscal 2004. Net income for fiscal 2005 was $58.5 million compared to $17.4 million in fiscal 2004.
Richard Crystal, New York & Company's Chairman and CEO stated, "We ended the year solidly. Our fourth quarter results demonstrate the success of our holiday assortments, which drove strong sales growth and earnings at the high end of our expectations.
marketing@alchempro.com
