New York & Company Inc, a specialty apparel chain with 580 stores announced that total net sales for the thirteen-week period ended August 4, 2007 increased 11.2% to $294.4 million, as compared to $264.9 million for the thirteen-week period ended July 29, 2006.
Comparable store sales increased 4.7% for the thirteen-week period ended August 4, 2007, as compared to a comparable store sales decrease of 4.0% for the thirteen-week period ended July 29, 2006.
Total net sales for the twenty-six-week year-to-date period ended August 4, 2007 increased 8.7% to $578.4 million, as compared to $532.0 million for the twenty-six-week year-to-date period ended July 29, 2006.
Comparable store sales increased 1.7% for the twenty-six-week year-to-date period ended August 4, 2007, as compared to a decrease of 6.7% for the twenty-six-week year-to-date period ended July 29, 2006.
Richard P. Crystal, Chairman and CEO stated: "Our second quarter comparable store sales increase of 4.7% reflected high single digit comparable store sales performance in apparel with particular strength in dresses and our wear-to-work classifications."
"While we are pleased with our overall level of sales, we experienced a decline in the higher margin accessory business, while maintaining apparel margins consistent with last year, the net effect of which is expected to cause our reported gross profit margin to come in below last year's second quarter. We have strengthened our focus on improving the accessory merchandise selection and believe this category will improve as we move forward."
marketing@alchempro.com
