By
Reuters
Published
Jun 8, 2010
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New York & Co widens second quarter loss outlook

By
Reuters
Published
Jun 8, 2010

June 7 (Reuters) - Women's apparel chain New York & Co Inc (NWY.N) widened its second-quarter loss outlook, sending its shares down 8 percent post market.

New York & Co
Photo: nyandcompany.com

The company also said it now expects about flat same-store sales for the second quarter, compared with a rise in comparable-store sales it forecast last month.

New York & Co also said merchandise margins could fall 900 basis points due to higher levels of promotional activity.

Shares of the company fell 8 percent to $3.28 after market, They closed at $3.28 Monday 7 June on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Roshni Menon)

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