New York & Co. beats Q4 profit expectations
Shares of New York & Co., Inc. (NYSE:NWY) are higher on news before the start of trading that the women’s apparel retailer posted a fourth-quarter profit that beat Wall Street’s projections despite a significant decline. The company, which has 578 stores, reported that net income from continuing operations was $11.2 million, or $0.18 per share, for the three months ended Feb. 2, above the projected $0.16 per share. Net income was $0.41 per share a year earlier.
At 10:55 a.m. ET, the stock was up $0.66, or 14%, to $5.40. For detailed price information and recent news stories about New York & Co., click NWY.
