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Celebrity Brands Propel New York & Co. to Profitable Q1

Celebrity Brands Propel New York & Co. to Profitable Q1

Celebrity Brands Propel New York & Co. to Profitable Q1
May 24
23:43 2018
Booking.com



New York & Company posted net earnings of $3.09 million in the first quarter ended May 5, compared to a loss of $4.3 million a year ago, beating or coming in at the high end of guidance across several metrics.
The specialty retailer’s operating profit came in at $4.3 million versus guidance of $2 million to $3 million. In last year’s quarter, there was an operating loss of $2.3 million.
Earnings before interest, taxes, depreciation and amortization came in at $9 million, at the high end of the $8 million to $9 million in guidance. Profits were the highest the company has seen in a decade for the first quarter. And it was the first time comp growth was seen in clicks and bricks since 2011.
Net sales were $218.8 million, compared to $209.9 million in the prior year. The increase in net sales reflects the combined effect of the shift of the calendar due to the 53rd week in 2017, increased sales from Fashion to Figure (the plus-size specialty chain purchased last year) and growth in e-commerce sales, partially offset by a reduced store count.
Comparable sales increased 2.7 percent, as compared to the same period last year, driven by increases in brick-and-mortar

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