New York & Co. (NWY) Reports Q3 EPS of $0.04. Revenues Miss

New York & Co. (NYSE: NWY) reported Q3 EPS of $0.04, versus $0.00 reported last year. Revenue for the quarter came in at $210.8 million versus the consensus estimate of $217.57 million.

Gregory Scott, RTW Retailwinds, Inc. CEO stated: “We are pleased to see continued favorable momentum in our business with the third quarter highlighted by an increase in comparable store sales, expansion in gross margin and expense discipline, which drove operating income that met our guidance. The sustained positive performance of our business reflects the success of our differentiated market position supported with our celebrity collaborations, sub-brands, and omni-channel operating platform. Additionally, in changing our name to RTW Retailwinds, we’re establishing a strong and distinct corporate identity which reflects our evolution into one of the largest specialty women’s omni-channel and digitally enabled retailers with a powerful multi-brand lifestyle platform poised for growth. We continue to execute across our 2018 strategic initiatives and we believe our longstanding Eva Mendes and Gabrielle Union collaborations, along with the 2019 Kate Hudson and intimates launches, will bring more excitement, awareness and interest to our customers.”

Commenting on fourth quarter, Mr. Scott added: “Despite a soft start in November, we were pleased with Black Friday week which matched last year’s performance and culminated with a record-breaking Cyber Monday. While our revised Fall Season guidance reflects performance through Cyber Monday and our expectation for the balance of the quarter, key holiday shopping weeks are ahead of us, and we are encouraged by the comp improvement in our recent trend, which is reflected in our comp and operating income expectations.”

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

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