New York & Company Sales, Income Drops in 4Q

New York New York & Company said its fourth-quarter net sales dropped to $359.4 million from $377.3 million in the same period of the year before.

Excluding sales from an extra week in fiscal year 2006, total net sales decreased 0.8% and same-store sales decreased 3.5% for the thirteen-week period ended February 2, 2008.

Net income from continuing operations for the fourth quarter of fiscal year 2007 was $11.2 million, compared to $24.9 million in the same period the year before.

For fiscal year 2007, net sales were $1,194.9 million, as compared to net sales of $1,153.3 million for fiscal year 2006.

Excluding sales from the extra week in fiscal year 2006, total net sales increased 5.0% and same-store sales decreased 1.3% for the fifty-two-week period ended February 2, 2008.

Net income from continuing operations for fiscal year 2007 was $26.7 million.