New York & Company Q3 Results Miss Projections

New York & Company Q3 earnings came in unchanged year-over-year, holding at a loss of $0.05 per share and missing the Street consensus loss of $0.03.

Revenue for the quarter, which ended Oct. 29, came in at $213.9 million, also missing analysts’ estimated revenue of $219.7 million and down from $219.8 million a year earlier.

The company said that comparable store sales were down 0.7%, while also seeing an increase in its e-commerce business. Analysts were expecting a 1% increase in comp store sales.

The retailer also set guidance for Q4, saying it anticipates revenue will be in the low single-digit percentage range, largely caused by a decreased store count. Additionally, comparable store sales are projected to be either flat or slightly declined. The Street expects a 2% advance in comp sales.

The company said as of right now, it is hoping to have two more New York & Company stores open by the end of the year, but that it projects it will have closed 21 stores and 7 outlets in the fiscal year 2016.