New York & Company March net sales, same-store sales declines
06 Apr '06
2 min read
Apparel retailer New York & Company Inc informed that total net sales for the five-week period ended April 1st 2006 decreased 7.7 percent to $94.9 million, compared to $102.8 million in the prior year period.
Same-store sales decreased 15.7 percent for the five-week period, compared to a same-store sales increase of 2.9 percent in the prior year period.
Total net sales for the nine-week year-to-date period ended April 1st 2006 decreased 6.9 percent to $175.4 million, as compared to $188.5 million in the prior year period. Same-store sales decreased 14.3 percent for the nine-week period, compared to a same-store sales increase of 6.0 percent in the prior year period.
Richard Crystal, Chairman and CEO stated, "March sales were disappointing as traffic remained weak. As we begin April, we are encouraged by early results, believe sales will continue to strengthen, and expect comparable store sales to turn positive. We believe our merchandise assortment is well positioned to capitalize on the increase in customer traffic expected during the month."
The company opened three new stores and closed one store in March, ending the month with 522 locations. In the first quarter of fiscal year 2006, it plans to have opened a total of 15 new stores and closed three stores, ending the quarter with 531 stores and 3.3 million selling square feet in operation.
New York & Company Inc 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.
marketing@alchempro.com
