UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 

FORM 8-K
CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 11, 2016

 

NEW YORK & COMPANY, INC.
(Exact name of registrant as specified in its charter)

 

DELAWARE

 

1-32315

 

33-1031445

(State or other jurisdiction of
incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

330 West 34th Street
9
th Floor
New York, New York 10001
(Address of principal executive offices, including  Zip Code)

 

(212) 884-2000
(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 7.01 Regulation FD Disclosure.

 

On January 11, 2016, New York & Company, Inc. issued a press release commenting on, among other things, its performance during the ten-week holiday period ended January 9, 2016 and its guidance for the thirteen-week fourth quarter ending January 30, 2016.

 

The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)  Exhibit

 

Exhibit No.

 

Description

99.1

 

Press release issued on January 11, 2016

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

NEW YORK & COMPANY, INC.

 

 

 

 

 

/s/ Sheamus Toal

Date: January 11, 2016

Name:

Sheamus Toal

 

Title:

Executive Vice President and

 

 

Chief Financial Officer

 

3



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Press release issued January 11, 2016

 

4




Exhibit 99.1

 

 

FINAL: For Release

 

NEW YORK & COMPANY, INC. COMMENTS ON HOLIDAY PERFORMANCE AND FOURTH QUARTER OUTLOOK

~ Fourth Consecutive Quarter of Positive Comps ~

~ Updates Previously Issued Guidance ~

 

New York, New York — January 11, 2016 — New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 507 retail stores, today commented on its holiday performance and fourth quarter fiscal year 2015 outlook ahead of its presentation at the ICR Conference. Comparable store sales for the ten-week period ended January 9, 2016 (“holiday period”) increased approximately 1.6%, and the Company still expects comparable store sales for the full quarter to increase in the low single-digit percentage, in line with the Company’s previously disclosed guidance in the Company’s press release dated December 2, 2015.

 

The Company detailed that with three weeks remaining in the quarter it now expects fourth quarter fiscal year 2015 non-GAAP adjusted operating results, excluding up to $1 million of non-operating charges comprised of severance and relocation related costs associated with leadership changes in its stores organization, to be approximately $1 million to $1.5 million of operating income, narrowing its previously disclosed guidance range of $1 million to $3 million.  Additionally, the Company expects inventory to be approximately flat, as compared to last fiscal year end. The Company plans to report actual results for the fourth quarter and full fiscal year 2015 in March 2016.

 

Gregory Scott, New York & Company’s CEO, stated:  “We are pleased to continue our positive momentum anticipating the fourth consecutive quarter of positive comparable store sales growth with sales expected to be in line with our prior guidance; however, we experienced softer demand for cold weather products due to unseasonably warm weather in the Northeast, Midwest and South.  These pressures led to sales and margins that are expected to be at the lower end of our prior guidance.  We were also pleased to see many positives in the quarter including the continued success of our celebrity collaborations, the expansion of our credit loyalty program to all-time highs, and the dramatic growth in eCommerce as we continue to benefit from our enhanced omni-channel capabilities.”

 

ICR Conference

 

As previously announced, the Company will be meeting with analysts and investors and presenting at the ICR Conference in Orlando, Florida on Tuesday, January 12, 2016.  The presentation will now be held at 3:30 p.m. Eastern Time on the same day, and still webcast live at www.nyandcompany.com.

 

About New York & Company

 

New York & Company, Inc. is a specialty retailer of women’s fashion apparel and accessories, and the modern wear-to-work destination for women, providing perfectly fitting pants and NY Style that is feminine, polished, on-trend and versatile — all at compelling values. The Company’s proprietary branded New York & Company® merchandise is sold exclusively through its national network of retail stores and

 



 

online at www.nyandcompany.com. The Company operates 507 stores in 43 states. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company’s website: www.nyandcompany.com.

 

Investor/Media Contact:

 

ICR, Inc.

Investor: Allison Malkin

(203) 682-8200

 

Forward-looking Statements

 

This press release contains certain forward looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.  Some of these statements can be identified by terms and phrases such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “continue,” “could,” “may,” “plan,” “project,” “predict,” and similar expressions and references to assumptions that the Company believes are reasonable and relate to its 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) the impact of general economic conditions and their effect on consumer confidence and spending patterns; (ii) changes in the cost of raw materials, distribution services or labor; (iii) the potential for current economic conditions to negatively impact the Company’s merchandise vendors and their ability to deliver products; (iv) the Company’s ability to open and operate stores successfully; (v) the Company’s ability to fully recognize the potential savings identified through Project Excellence; (vi) seasonal fluctuations in the Company’s business; (vii) the Company’s ability to anticipate and respond to fashion trends; (viii) the Company’s dependence on mall traffic for its sales; (ix) competition in the Company’s market, including promotional and pricing competition; (x) the Company’s ability to retain, recruit and train key personnel; (xi) the Company’s reliance on third parties to manage some aspects of its business; (xii) the Company’s reliance on foreign sources of production; (xiii) the Company’s ability to protect its trademarks and other intellectual property rights; (xiv) the Company’s ability to maintain, and its reliance on, its information technology infrastructure; (xv) the effects of government regulation; (xvi) the control of the Company by its sponsors and any potential change of ownership of those sponsors; and (xvii) other risks and uncertainties as described in the Company’s documents filed with the SEC, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company undertakes no obligation to revise the forward looking statements included in this press release to reflect any future events or circumstances.

 


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