New York & Co. reports loss, meets expectations

New York City New York & Co. on Wednesday reported a fiscal second-quarter loss, but results matched analyst expectations.

Loss for the three months ended Aug. 1 totaled $4.8 million, matching the average analyst expectation, compared with a profit of $8.8 million last year.

Revenue fell 16% to $247.8 million, from $295.7 million last year. Analysts expected revenue of $248.1 million.

Richard P. Crystal, New York & Co.'s chairman and CEO, said the company's results met internal expectations as the company lowered expenses and inventory.