New York & Co. (NWY) Misses Q3 EPS by 4c, Offers Gudiance

New York & Co. (NYSE: NWY) reported Q3 EPS of ($0.05), $0.04 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $219.8 million versus the consensus estimate of $217.18 million.

• Comparable Store Sales Increased 4.9%

Additional Outlook:

• Total inventory is expected to increase in the low to mid single-digit percentage range, reflecting higher levels of in-store inventory as we position inventory for the Spring selling period.
• Capital expenditures for the fourth quarter of fiscal year 2015 are projected to be between $6 million and $7 million, as compared to $5.8 million of capital expenditures in the fourth quarter of last year. Capital expenditures are projected to include the following:
  • Real Estate capital expenditures of $1 million to $2 million; and
  • Investments of approximately $5 million in information technology and eCommerce.
• Depreciation expense for the fourth quarter of fiscal year 2015 is estimated to be approximately $6 million.

• The Company plans to end the full fiscal year 2015 having opened 12 new stores, (4 New York & Company stores and 8 Outlet stores), converted 12 New York & Company stores to Outlet stores, remodeled 8 existing stores and closed approximately 24 stores, ending the fiscal year with roughly 492 stores, including 82 Outlet stores, and approximately 2.5 million selling square feet.

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

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