New York & Company reports total sales rise 8.2% in Jan '06
02 Feb '06
2 min read
Specialty apparel chain New York & Company Inc has announced that total net sales for the four-week period ended January 28, 2006 increased 8.2 percent to $63.2 million, compared to $58.4 million in the prior year period.
Comparable store sales increased 0.6 percent for the four-week period, compared to a comparable store sales increase of 1.2 percent in the prior year period.
For the fourth quarter ended January 28, 2006, total net sales increased 16.1 percent to $351.6 million, compared to $302.8 million in the fourth quarter of 2004. Fourth quarter comparable store sales increased 9.6 percent, compared to a 2.7 percent decrease in the prior year fourth quarter.
Total net sales for the fifty-two week period ended January 28, 2006 increased 8.7 percent to $1,130.5 million, as compared to $1,040.0 million in fiscal 2004. Comparable store sales for fiscal 2005 increased 3.2 percent, compared to a 7.2 percent increase in fiscal 2004.
Richard Crystal, New York & Company's Chairman and CEO, said, "We are pleased with our fourth quarter performance, as we accomplished all of our goals including increasing market share. We believe we are well positioned to accomplish our objectives for spring."
"We are pleased with our current spring assortment and given our controlled inventory position we will be able to chase proven winners as opportunities present themselves," he added.
The company opened one new store and closed nine stores in January, ending the month with 519 locations and 3.3 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.
The company's proprietary branded New York & Company(TM) merchandise is sold exclusively through its national network of retail stores. It operates 519 retail stores in 45 states.
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