Exhibit 99.1
Final: For Release | Company Contact: |
| Ronald Ristau |
| Chief Operating Officer |
| Chief Financial Officer |
| (212) 884-2000 |
|
|
| Investor/Media Contact: |
| Integrated Corporate Relations |
| (203) 682-8200 |
| Investor: Allison Malkin |
| Media: Megan McDonnell |
NEW YORK & COMPANY, INC. REPORTS NOVEMBER SALES RESULTS
Total Sales Rise 20.7%
Comparable Store Sales Increase 12.9%
New York, New York – December 1, 2005 - New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 528 stores, announced today that total net sales for the four-week period ended November 26, 2005 increased 20.7% to $111.2 million, compared to $92.1 million in the prior year period. Comparable store sales increased 12.9% for the four-week period, compared to a comparable store sales decrease of 0.4% in the prior year period.
Total net sales for the forty-three week period ended November 26, 2005 increased 7.3% to $890.2 million, as compared to $829.3 million in the prior year period. Comparable store sales increased 1.9% for the forty-three week period, compared to a comparable store sales increase of 10.3% in the prior year period.
Richard P. Crystal, New York & Company’s Chairman, President and CEO stated: “We were very pleased with our results for November as we were able to deliver a 12.9% increase in comparable store sales for the month, reflecting a terrific response to both our merchandise assortments and advertising campaign. Looking ahead, we believe our strategies have us poised to capitalize on the remainder of the holiday selling season.”
The Company opened five new stores in November, ending the month with 528 locations and 3.3 million selling square feet in operation.
Conference Call Information
To listen to New York & Company’s prerecorded November sales message beginning today, Thursday, December 1, 2005 at 8:30 am ET, please dial (877) 519-4471 followed by the conference identification number #5457335.
Forward-Looking Statements: This press release contains certain forward-looking statements. Some of these statements can be identified by terms and phrases such as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “could,” “may,” “plan,” “project,” “predict” and similar expressions and include references to assumptions that we believe are reasonable and relate to our future prospects, developments and business strategies. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These include, but are not limited to: (i) our ability to open and operate new stores successfully; (ii) seasonal fluctuations in our business; (iii) our ability to anticipate and respond to fashion trends and launch new product lines successfully; (iv) general economic conditions, consumer confidence and spending patterns; (v) our dependence on mall traffic for our sales; (vi) the susceptibility of our business to extreme and/or unseasonable weather conditions; (vii) our ability to retain and recruit key personnel; (viii) our reliance on third parties to manage some aspects of our business; (ix) changes in the cost of raw materials, distribution services or labor; (x) our reliance on foreign sources of production; (xi) the potential impact of natural disasters and health concerns relating to outbreaks of widespread diseases, particularly on manufacturing operations of our vendors; (xii) the ability of our manufacturers to manufacture and deliver products in a timely manner while meeting our quality standards; (xiii) our ability to successfully integrate the newly acquired Jasmine Company, Inc. business into our existing business; (xiv) our reliance on manufacturers to maintain ethical business practices; (xv) our ability to protect our trademarks and other intellectual property rights; (xvi) our dependence on the success of our brand; (xvii) competition in our market, including promotional and pricing competition; (xviii) our reliance on the effective use of customer information; (xix) the effects of government regulation; (xx) the control of our company by our sponsors; and (xxi) other risks and uncertainties as described in our documents filed with the SEC, including our Annual Report on Form 10-K. We undertake no obligation to revise the forward-looking statements included in this press release to reflect any future events or circumstances.
About New York & Company
New York & Company, Inc., founded in 1918, is a leading specialty retailer of fashion-oriented, moderately-priced women’s apparel. The Company’s proprietary branded New York & Company ™ merchandise is sold exclusively through its national network of retail stores. As of November 26, 2005, the Company operated 528 retail stores in 45 states. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company’s website: www.nyandcompany.com.