US: New York & Co narrows Q1 loss to $3.6m
- Q1 loss narrows to $3.6m from $4.9m
- Net sales edged up 1% to $239.4m
- Comparable store sales rose 2.5%
Women’s fashion retailer New York & Company Inc has narrowed its first quarter loss through a combination of higher same-store sales and tight control of markdowns, inventory and expenses.
“While we continue to view 2011 as a transition year, we are encouraged by our customers’ positive response to our spring fashion which drove improved levels of regular price selling,” noted CEO Gregory Scott.
He added: “Changes to our product flow and promotional calendar allowed us to optimise our sales productivity.”
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