New York & Company, Inc. Announces Participation in Consumer Conferences and Updates Outlook for Fourth Quarter 2007
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New York & Company, Inc. (NYSE: NWY) today announced that the Company
will be participating at the Cowen and Company 6th
Annual Consumer Conference and the 10th Annual
ICR XChange Conference.
The Company indicated that it currently expects fourth quarter fiscal
2007 diluted earnings per share from continuing operations in the range
of $0.15 - $0.19, as compared to its previous estimate of $0.23 - $0.32.
The Company also noted that comparable store sales for November and
December, the nine week period ended January 5, 2008, were negative 3.5%
and slightly below its previously issued guidance ranges.
The Cowen and Company 6th Annual Consumer
Conference will be held at the Westin New York at Times Square on
Tuesday, January 15, 2008 at 2:30 p.m. Eastern Standard Time. The
presentation for the 10th Annual ICR XChange is
scheduled for Thursday, January 17, 2008 at 4:50 pm Eastern Standard
Time at the St. Regis Monarch Beach Resort and Spa in Dana Point,
California. Richard P. Crystal, Chairman and Chief Executive Officer and
Ronald W. Ristau, President and Chief Financial Officer will host the
presentations, which will also be webcast live at www.nyandcompany.com.
Forward Looking Statements: This press release contains certain forward
looking statements. Some of these statements can be identified by terms
and phrases such as "anticipate,” "believe,” "intend,” "estimate,” "expect,” "explore”, "continue,” "could,” "may,” "plan,” "project,” "predict”, and
similar expressions and include references to assumptions that we
believe are reasonable and relate to our future prospects, developments
and business strategies. Such statements are subject to various risks
and uncertainties that could cause actual results to differ materially.
These include, but are not limited to: (i) our ability to open and
operate stores successfully and the possible lack of availability of
suitable locations on acceptable terms; (ii) seasonal fluctuations in
our business; (iii) our ability to anticipate and respond to fashion
trends, develop new merchandise and launch new product lines
successfully; (iv) general economic conditions, consumer confidence and
spending patterns; (v) our dependence on mall traffic for our sales;
(vi) the susceptibility of our business to extreme and/or unseasonable
weather conditions; (vii) our ability to retain, recruit and train key
personnel; (viii) our reliance on third parties to manage some aspects
of our business; (ix) changes in the cost of raw materials, distribution
services or labor, including federal and state minimum wage rates; (x)
our reliance on foreign sources of production, including the disruption
of imports by labor disputes, political instability, legal and
regulatory matters, duties, taxes, other charges and quotas on imports,
local business practices, potential delays in shipping and related
pricing impacts and political issues and fluctuation in currency and
exchange rates; (xi) the potential impact of natural disasters and
health concerns relating to outbreaks of widespread diseases,
particularly on manufacturing operations of our vendors; (xii) the
ability of our manufacturers to manufacture and deliver products in a
timely manner while meeting our quality standards; (xiii) our ability to
efficiently execute our exit strategy related to the JasmineSola
business; (xiv) our ability to service any debt we incur from time to
time as well as our ability to maintain the requirements that the
agreements related to such debt impose upon us; (xv) the potential
impact of national and international security concerns on the retail
environment, including any possible military action, terrorist attacks
or other hostilities; (xvi) our reliance on manufacturers to maintain
ethical business practices; (xvii) our ability to protect our trademarks
and other intellectual property rights; (xviii) our ability to maintain
and our reliance on our information systems infrastructure; (xix) our
dependence on the success of our brand; (xx) competition in our market,
including promotional and pricing competition; (xxi) our reliance on the
effective use of customer information; (xxii) the effects of government
regulation; (xxiii) the control of our company by our sponsors; and
(xxiv) other risks and uncertainties as described in our documents filed
with the SEC, including our Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. We undertake no obligation to revise the forward
looking statements included in this press release to reflect any future
events or circumstances.
About New York & Company, Inc.
New York & Company, Inc., founded in 1918, is a leading specialty
retailer of fashion-oriented, moderately-priced women’s
apparel. The Company’s proprietary branded New
York & Company ™ merchandise is
sold exclusively through its national network of New York & Company
retail stores and online at www.nyandcompany.com.
The Company currently operates 582 New York & Company retail stores in
44 states. Additionally, certain product, press release and SEC filing
information concerning the Company are available at the Company’s
website: www.nyandcompany.com.
