New York & Company 2Q Profit Soars

New York City New York & Company Inc. said Friday its second-quarter earnings more than doubled as its margins expanded and the company refocused its promotional strategies to lift sales.

The company earned $8.8 million, compared with $3.5 million in the year-ago quarter.

Revenue rose to $295.7 million, from $285 million a year earlier.

The company said it improved sales margins by streamlining its marketing efforts. It also attributed the quarter's results to a focus on inventory reduction and cost cutting.

The opening of 10 new stores during the quarter helped offset a 2.2% decline in same-store sales. Same-store sales rose 4.9% in the 2007 second quarter.