×
262
Fashion Jobs
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TAKSHAKA INTERIORS
Req. Production Manager/Executive -Wood Furniture
Permanent · Gurugram
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
SKYNET OUTSOURCING SERVICES
Production Manager Api Industries-Bharuch,Ankelshwar Location
Permanent · Bharuch
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · National Capital Region
NIKE
Senior Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
RANDSTAD
Area Sales Manager
Permanent · Gurugram
3F INDUSTRIES
Technologist/Production Manager For Our Amino Acid Plant
Permanent · Chennai
3F INDUSTRIES
Chemical Technologist/Production Manager For Our (Cbg) Plant
Permanent · Chennai
NEWGEN
Sales Manager (South India)
Permanent · Chennai
JOBSGURU CONSULTANT
Production Manager Outsourcing - Mumbai
Permanent · Mumbai
PEOPLE ALLIANCE WORKFORCE
Asst. Manager Quality/Quality Line Officer/qa & qc- Garments Industry
Permanent · National Capital Region
DR LAL PATHLABS
Area Sales Manager : Corporate Sales l dr Lal Pathlabs
Permanent · National Capital Region
TIME TECHNOPLAST
Regional Manager
Permanent · National Capital Region
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
RRD
Associate Production Manager
Permanent · Chennai
GOKALDAS EXPORTS
Asst Manager - Production Planning (Apparel / Garment Background)
Permanent · Bengaluru
By
Fibre2Fashion
Published
Aug 22, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

New York & Company net sales down 3.7% in Q2 2017

By
Fibre2Fashion
Published
Aug 22, 2017

New York & Company, Inc., a specialty women’s apparel chain, has recorded net sales of $224.1 million for the second quarter of 2017, down 3.7 per cent as compared to $232.8 million in Q2 of previous year. This reflects growth in e-commerce, offset by the impact of a lower store count (460 this year versus 486 last year) and decreased comparable store sales.




The company's comparable sales decreased 1.1 per cent, reflecting double-digit percentage growth in e-commerce offset with decrease in comparable store sales in brick-and-mortar stores. Gross profit as a percentage of net sales increased 30.6 per cent versus 28.8 per cent for the fiscal year 2016 second quarter, reflecting the highest gross margin rate achieved in the second quarter since 2005. For the reported period, GAAP operating income was $5.2 million, improvement by $3.8 million compared to last year for the same period.

"We are pleased to report better-than-expected second quarter results reflecting a significant increase in both operating income and diluted earnings per share as compared to the fiscal 2016 second quarter. The quarter marked our highest gross margin and operating income since second quarter 2005 and 2008, respectively. We also made progress on our profit improvement objectives which resulted in lower product costs, reductions in occupancy costs, decreases in buying expenses, savings in selling, general and administrative expenses, all while advancing our omni-channel and loyalty initiatives," said Gregory Scott, New York & Company’s CEO.

"Most notably in the quarter was the significant improvement in the traffic trends to our NY&CO brick-and-mortar stores, which we attribute to the success of our product and marketing including the launch of Gabrielle Union for 7th Avenue and the continued growth in our Eva Mendes collection," said Scott. "While comparable sales were down slightly, we were pleased to experience continued growth in e-commerce, which increased by a double-digit percentage."

For the third quarter of fiscal 2017, net sales and comparable store sales are expected to be approximately flat. The operating results are expected to be approximately breakeven to a loss of $1.0 million, as compared to an operating loss of $2.1 million in the prior year’s third quarter.

Copyright © 2023 Fibre2Fashion. All rights reserved.