-
New York & Co. swings to loss in Q4, hones focus on outlet business
Los Angeles -- New York & Co. reported Thursday a loss of $10.9 million in the fourth quarter, compared with net income of $14.9 million a year earlier.
Sales dropped to $271.8 million, from $303.2 million in the same quarter last year, missing Wall Street’s expected $275 million in revenue. Same-store sales fell 6.3%.
Looking ahead, the retailer said it expects to open 11 outlet locations and one full-price store in the first quarter of 2012, as well as