- New York & Company (NWY) slides after Q1 results fell short. Comparable-store sales fell 2.3%, while the operating loss widened compared to last year.
- The company said it lost traffic momentum during the last part of the quarter, a refrain also heard from other retailers.
- The t-shirts, crops, shorts, and dresses categories were cited as weak performers.
- Gross profit as a percentage of sales decreased 110 bps to 27.7%.
- Comparable-store sales are seen coming in as flat to slightly negative for the full year.
- Previously: New York & Company misses by $0.13, misses on revenue (May 19)
- NWY -16.27% premarket to $2.47.