New York & Co. (NWY) Misses Q4 EPS by 1c

New York & Co. (NYSE: NWY) reported Q4 EPS of ($0.01), $0.01 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $267.4 million versus the consensus estimate of $267.04 million.

Comparable store sales decreased 0.9%, following an increase of 1.2% for the same period last year.

Outlook:

Regarding expectations for the first quarter of fiscal year 2015, the Company is providing the following guidance:

• Net sales and comparable store sales are expected to increase in the low single-digit percentage versus last year.
• Gross margin is expected to increase by approximately 50-150 basis points from the prior year’s first quarter rate reflecting improved product costs, partially offset by increased freight and shipping costs associated with the implementation of the Company’s contingency plans resulting from the West Coast port delays and increased shipping costs associated with our expanding eCommerce business.
• Selling, general and administrative expenses are expected to be up approximately $8.0 million from last year reflecting non-operating charges of approximately $2.6 million, which are primarily comprised of consulting related expenses due to the continuation of the business process re-engineering project. Excluding the impact of the non-operating charges, selling, general and administrative expenses are expected to increase approximately $5.4 million reflecting investments in television advertising, anticipated increases in performance-based compensation accruals as compared to last year, increased rent expense for our corporate office and higher depreciation resulting from the increase in information technology investments.
• On a non-GAAP basis, excluding the non-operating charges of $2.6 million, adjusted operating income is expected to be approximately breakeven, as compared to the prior year’s breakeven operating income.

For earnings history and earnings-related data on New York & Co. (NWY) click here.

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