The volatile trading in New York & Company (NYSE:NWY) continues with shares up 6.40% this morning.
The retailer's market cap has shrunk down to just under $110M, which has been brought in some speculative buyers.
Perhaps a surprise, but New York & Company is adding new stores and launching celebrity partnerships.
New York & Company on strategy: "We are also extremely pleased to have taken over several competitor locations with flexible lease terms in some of the best malls in the country. These locations were obtained at attractive occupancy rates, requiring low capital investment and are expected to generate high returns as we will showcase a more expansive selection of our Eva Mendes Collection, which has seen a double-digit increase in sales since we began the collaboration in 2013."