Inactive Instrument

RTW Retailwinds, Inc.

Equities

RTWIQ

US74980D1000

New York & Company Inc. Reports Unaudited Consolidated Earnings Results for the Three Months and Six Months Ended July 30, 2016; Provides Earnings Guidance for the Third Quarter of 2016

August 19, 2016 at 01:31 am IST

New York & Company Inc. reported unaudited consolidated earnings results for the three months and six months ended July 30, 2016. For the three months, the company reported net sales of USD 232,819,000 compared to USD 235,696,000 a year ago. Operating income was USD 1,340,000 compared to USD 435,000 a year ago. Income before income taxes was USD 1,032,000 compared to USD 126,000 a year ago. Net income was USD 945,000 compared to loss of USD 146,000 a year ago. Basic and diluted earnings per share were USD 0.01 against USD 0.00 a year ago. Non GAAP adjusted operating income was USD 1.072 million and non GAAP adjusted net income was USD 0.065 million. Capital spending was USD 7.4 million as compared to USD 7.3 million in last year's second quarter, primarily reflecting continued spend on real estate and the company's information technology infrastructure.

For the six months, the company reported net sales of USD 448,857,000 compared to USD 459,086,000 a year ago. Operating loss was USD 4,058,000 compared to USD 3,810,000 a year ago. Loss before income taxes was USD 4,663,000 compared to USD 4,408,000 a year ago. Net loss was USD 4,771,000 compared to USD 4,817,000 a year ago. Basic and diluted loss per share was USD 0.08 compared to USD 0.08 a year ago. Net cash provided by operating activities was USD 12,495,000 compared to USD 5,831,000 a year ago. Capital expenditures were USD 9,235,000 compared to USD 13,993,000 a year ago.

Regarding expectations for the third quarter of fiscal year 2016, the company is providing the following guidance. Net sales and comparable store sales are expected to be flat to up in the low single-digit range. Gross margin is expected to be up by approximately 50 basis points to 150 basis points reflecting benefits from new private label credit card agreement, reductions in product costs and agent expenses resulting from Project Excellence, and reductions in occupancy costs, partially offset by increased shipping costs associated with the growing omni-channel business. While operating results on a GAAP basis for the third quarter of fiscal year 2016 are expected to reflect a loss, the xompany anticipates that the results will improve from the prior year operating loss of USD 4.9 million. Capital expenditures are projected to be between USD 8 million and USD 9 million as compared to USD 6.8 million of capital expenditures in the third quarter of last year. Depreciation expense is estimated to be approximately USD 6 million.

Latest news about RTW Retailwinds, Inc.

RTW Retailwinds, Inc. Went Out of Business	31/20/31	CI
Joint Liquidation Plan Approved for RTW Retailwinds, Inc.	10/20/10	CI
Motion for Asset Sale Approved for RTW Retailwinds, Inc.	16/20/16	CI
First Motion for Exclusivity Period Extension Approved For RTW Retailwinds, Inc.	29/20/29	CI
Disclosure Statement Approved for RTW Retailwinds, Inc.	29/20/29	CI
Motion for Asset Sale Filed by RTW Retailwinds, Inc.	07/20/07	CI
First Motion for Exclusivity Period Extension Filed by RTW Retailwinds, Inc.	06/20/06	CI
Saadia Group, LLC completed the acquisition of E-Commerce business from a group of sellers.	01/20/01	CI
Joint Liquidation Plan and Disclosure Statement Filed by RTW Retailwinds, Inc.	30/20/30	CI
DIP Financing Approved for RTW Retailwinds, Inc.	15/20/15	CI
Motion for Asset Sale Approved for RTW Retailwinds, Inc.	04/20/04	CI
Consumer Cos Flat As California Covid Case Growth Slows -- Consumer Roundup	01/20/01	DJ
Saadia Group, LLC entered into an asset purchase agreement to acquire E-Commerce business from a group of sellers for $40 million.	31/20/31	CI
Notice of Selection of Successful Bidder Filed by RTW Retailwinds, Inc.	28/20/28	CI
Sunrise Brands, LLC cancelled the acquisition of E-Commerce business of RTW Retailwinds, Inc. (OTCPK:RTWI.Q), Lerner New York Holding, Inc., Lernco, Inc., Lerner New York, Inc., Lerner New York GC, LLC, Lerner New York Outlet, Inc., New York & Company Stores, Inc, FTF GC, LLC, Lerner New York FTF, LLC, Fashion to Figure, LLC and FTF IP Company, Inc.	28/20/28	CI
Motion For Asset Sale Approved on Final Basis - Store Closing Sales for RTW Retailwinds, Inc.	08/20/08	CI
Bidding Procedure Approved for RTW Retailwinds, Inc.	08/20/08	CI
Consumer Cos Up On Hopes That Coronavirus Spread Is Slowing -- Consumer Roundup	05/20/05	DJ
Stalking Horse Agreement Filed by RTW Retailwinds, Inc.	03/20/03	CI
Sunrise Brands, LLC entered into an asset purchase agreement to acquire E-Commerce business of RTW Retailwinds, Inc. (OTCPK:RTWI.Q), Lerner New York Holding, Inc., Lernco, Inc., Lerner New York, Inc., Lerner New York GC, LLC, Lerner New York Outlet, Inc., New York & Company Stores, Inc, FTF GC, LLC, Lerner New York FTF, LLC, Fashion to Figure, LLC and FTF IP Company, Inc. for $20 million.	03/20/03	CI
RTW Retailwinds Reportedly To Sell Its E-Commerce Business	23/20/23	CI
Motion for Asset Sale Filed by RTW Retailwinds, Inc.	17/20/17	CI
Motion For Asset Sale Approved on Interim Basis - Store Closing Sales for RTW Retailwinds, Inc.	15/20/15	CI
Motion for Joint Administration Approved for RTW Retailwinds, Inc.	15/20/15	CI
RTW Retailwinds, Inc. Filed for Bankruptcy	13/20/13	CI

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RTW Retailwinds Inc. is a specialty women's omni-channel retailer. The Company operates approximately 387 retail and outlet in over 33 states. The Company's portfolio includes branded merchandise from New York & Company, Fashion to Figure, and collaborations with Eva Mendes, Gabrielle Union and Kate Hudson. The Company's branded merchandise is sold exclusively at its retail locations and online at www.nyandcompany.com, www.nyandcompanycloset.com, www.fashiontofigure.com, and www.happyxnature.com. The Company offers a merchandise assortment consisting of wear-to-work, casual apparel and accessories, including pants, dresses, jackets, knit tops, blouses, sweaters, denim, t-shirts, activewear, handbags, jewelry and shoes. The Company's stores are concentrated in medium to large population centers of the United States and are located in shopping malls, lifestyle centers, outlet centers, and off-mall locations, including urban street locations.

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