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New York & Co. plans cost cuts after tough Q3
An increase in selling, general & administrative (SG&A) expenses helped increase net loss at New York & Company Inc. to $9.7 million in the third quarter of fiscal 2014, up from $3.4 million a year earlier.
Net sales declined 3% to $210.6 million from $217.3 million, and same-store sales dropped 3.4%. New York & Co. cited soft performance in its wear-to-work category and the impact of product delays resulting from West Coast port labor issues as negatively impacting sales.
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Ulta Beauty looking better with age
With 765 stores now in operation, Ulta Beauty’s unique value proposition continues to resonate strongly with shoppers.
The more recent evidence could be seen in the company’s third quarter results which saw same stores sales accelerate 9.5 percent from a prior year gain of 6.8 percent.