Exhibit 99.3
New York & Company, Inc. and Subsidiaries
Schedule of Consolidating Statements of Operations
- - Fiscal Year 2006 (amounts in thousands, except per share amounts) -
(Unaudited)
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| Three Months Ended April 29, 2006 |
| Three Months Ended July 29, 2006 |
| Three Months Ended October 28, 2006 |
| Three Months Ended February 3, 2007 |
| Twelve Months Ended February 3, 2007 |
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| New York & |
| JasmineSola |
| Consolidated |
| New York & |
| JasmineSola |
| Consolidated |
| New York & Company |
| JasmineSola |
| Consolidated |
| New York & |
| JasmineSola |
| Consolidated |
| New York & |
| JasmineSola |
| Consolidated |
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Net sales |
| $259,015 |
| $8,122 |
| $267,137 |
| $256,993 |
| $7,865 |
| $264,858 |
| $260,007 |
| $10,915 |
| $270,922 |
| $377,318 |
| $12,958 |
| $390,276 |
| $1,153,333 |
| $39,860 |
| $1,193,193 |
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Cost of goods sold, buying and occupancy costs |
| 182,124 |
| 5,910 |
| 188,034 |
| 182,524 |
| 6,753 |
| 189,277 |
| 172,356 |
| 8,640 |
| 180,996 |
| 249,753 |
| 10,284 |
| 260,037 |
| 786,757 |
| 31,587 |
| 818,344 |
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Gross profit |
| 76,891 |
| 2,212 |
| 79,103 |
| 74,469 |
| 1,112 |
| 75,581 |
| 87,651 |
| 2,275 |
| 89,926 |
| 127,565 |
| 2,674 |
| 130,239 |
| 366,576 |
| 8,273 |
| 374,849 |
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Selling, general and administrative expenses |
| 66,571 |
| 1,913 |
| 68,484 |
| 61,518 |
| 2,682 |
| 64,200 |
| 70,254 |
| 3,128 |
| 73,382 |
| 86,321 |
| 4,279 |
| 90,600 |
| 284,664 |
| 12,002 |
| 296,666 |
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Operating income (loss) |
| 10,320 |
| 299 |
| 10,619 |
| 12,951 |
| (1,570 | ) | 11,381 |
| 17,397 |
| (853 | ) | 16,544 |
| 41,244 |
| (1,605 | ) | 39,639 |
| 81,912 |
| (3,729 | ) | 78,183 |
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Interest expense, net |
| 489 |
| 1 |
| 490 |
| 477 |
| — |
| 477 |
| 471 |
| — |
| 471 |
| 226 |
| — |
| 226 |
| 1,663 |
| 1 |
| 1,664 |
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Income (loss) before income taxes |
| 9,831 |
| 298 |
| 10,129 |
| 12,474 |
| (1,570 | ) | 10,904 |
| 16,926 |
| (853 | ) | 16,073 |
| 41,018 |
| (1,605 | ) | 39,413 |
| 80,249 |
| (3,730 | ) | 76,519 |
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Income tax provision (benefit) |
| 3,952 |
| 120 |
| 4,072 |
| 5,037 |
| (632 | ) | 4,405 |
| 6,822 |
| (342 | ) | 6,480 |
| 16,042 |
| (650 | ) | 15,392 |
| 31,853 |
| (1,504 | ) | 30,349 |
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Net income (loss) |
| $5,879 |
| $178 |
| $6,057 |
| $7,437 |
| $(938 | ) | $6,499 |
| $10,104 |
| $(511 | ) | $9,593 |
| $24,976 |
| $(955 | ) | $24,021 |
| $48,396 |
| $(2,226 | ) | $46,170 |
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Basic earnings (loss) per share |
| $0.11 |
| $— |
| $0.11 |
| $0.13 |
| $(0.01 | ) | $0.12 |
| $0.18 |
| $(0.01 | ) | $0.17 |
| $0.44 |
| $(0.02 | ) | $0.42 |
| $0.86 |
| $(0.04 | ) | $0.82 |
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Diluted earnings (loss) per share |
| $0.10 |
| $— |
| $0.10 |
| $0.12 |
| $(0.01 | ) | $0.11 |
| $0.17 |
| $(0.01 | ) | $0.16 |
| $0.41 |
| $(0.01 | ) | $0.40 |
| $0.81 |
| $(0.04 | ) | $0.77 |
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Weighted average shares outstanding: |
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Basic shares of common stock |
| 55,226 |
| 55,226 |
| 55,226 |
| 55,656 |
| 55,656 |
| 55,656 |
| 56,381 |
| 56,381 |
| 56,381 |
| 57,023 |
| 57,023 |
| 57,023 |
| 56,072 |
| 56,072 |
| 56,072 |
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Diluted shares of common stock |
| 59,744 |
| 59,744 |
| 59,744 |
| 59,852 |
| 59,852 |
| 59,852 |
| 59,963 |
| 59,963 |
| 59,963 |
| 60,566 |
| 60,566 |
| 60,566 |
| 60,031 |
| 60,031 |
| 60,031 |
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As a percentage of net sales: |
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Net sales |
| 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % |
Cost of goods sold, buying and occupancy costs |
| 70.3 | % | 72.8 | % | 70.4 | % | 71.0 | % | 85.9 | % | 71.5 | % | 66.3 | % | 79.2 | % | 66.8 | % | 66.2 | % | 79.4 | % | 66.6 | % | 68.2 | % | 79.2 | % | 68.6 | % |
Gross profit |
| 29.7 | % | 27.2 | % | 29.6 | % | 29.0 | % | 14.1 | % | 28.5 | % | 33.7 | % | 20.8 | % | 33.2 | % | 33.8 | % | 20.6 | % | 33.4 | % | 31.8 | % | 20.8 | % | 31.4 | % |
Selling, general and administrative expenses |
| 25.7 | % | 23.5 | % | 25.6 | % | 24.0 | % | 34.1 | % | 24.2 | % | 27.0 | % | 28.6 | % | 27.1 | % | 22.9 | % | 33.0 | % | 23.2 | % | 24.7 | % | 30.2 | % | 24.8 | % |
Operating income (loss) |
| 4.0 | % | 3.7 | % | 4.0 | % | 5.0 | % | (20.0 | %) | 4.3 | % | 6.7 | % | (7.8 | %) | 6.1 | % | 10.9 | % | (12.4 | %) | 10.2 | % | 7.1 | % | (9.4 | %) | 6.6 | % |
Interest expense, net |
| 0.2 | % | — | % | 0.2 | % | 0.2 | % | — | % | 0.2 | % | 0.2 | % | — | % | 0.2 | % | 0.1 | % | — | % | 0.1 | % | 0.1 | % | — | % | 0.1 | % |
Income (loss) before income taxes |
| 3.8 | % | 3.7 | % | 3.8 | % | 4.8 | % | (20.0 | %) | 4.1 | % | 6.5 | % | (7.8 | %) | 5.9 | % | 10.8 | % | (12.4 | %) | 10.1 | % | 7.0 | % | (9.4 | %) | 6.5 | % |
Income tax provision (benefit) |
| 1.5 | % | 1.5 | % | 1.5 | % | 1.9 | % | (8.1 | %) | 1.6 | % | 2.6 | % | (3.1 | %) | 2.4 | % | 4.2 | % | (5.0 | %) | 3.9 | % | 2.8 | % | (3.8 | %) | 2.6 | % |
Net income (loss) |
| 2.3 | % | 2.2 | % | 2.3 | % | 2.9 | % | (11.9 | %) | 2.5 | % | 3.9 | % | (4.7 | %) | 3.5 | % | 6.6 | % | (7.4 | %) | 6.2 | % | 4.2 | % | (5.6 | %) | 3.9 | % |
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