American fashion retailer New York & Company has reported a 3 per cent increase in comparable store sales during the holiday period (nine weeks) ended December 30, 2017, as compared to the same period last year.
The trading update also mentioned that the speciality apparel retailer, which operates 459 retail stores across 39 states, noted the highest third-quarter operating income since 2007.
In the press release issued, the fashion company stated that its ability to differentiate stores with exclusive celebrity brands, reach to existing and new consumers though online marketing campaigns helped it in securing positive results during holidays.
New York & Company now anticipates that during the fourth quarter its operating income may range between US $ 2 million and US $ 4 million. Four weeks from now the company will close its fourth quarter and is expected to announce results by March 2018.
Acquisition of plus-size brand Fashion to Figure, the most popular one among plus-size consumers, may also help New York & Company note good financial results in the fourth quarter. 13-year-old Fashion to Figure was established by Michael and Nicholas Kaplan, who are the great-grandsons of Lena Bryant, founder of the plus-size clothing chain Lane Bryant. The brand enjoys a loyal consumer base of around 500,000 customers.