New York & Co. sees Q2 adjusted operating income $1M-$2M, consensus 2c Q2 net sales and comparable store sales are expected to increase by a low single-digit percentage versus last year. Q2 revenue consensus $229.65M. Gross margin is expected to increase by 100-200 basis points from the prior year’s second quarter rate reflecting improved product costs and improved leverage of buying and occupancy costs, partially offset by increased shipping costs associated with the growing omni-channel business. Selling, general and administrative expenses are expected to be up approximately $5M from last year reflecting non-operating charges of approximately $1M, which are primarily comprised of consulting related expenses due to the continuation of the business process re-engineering project.
New York & Co. reports Q1 adjusted EPS (3c), consensus 0c Reports Q1 revenue $223.4M, consensus $229.09M. Comparable store sales increased 1.8%, following a decrease of 2.2% for the same period last year. Gross profit as a percentage of net sales increased 50 basis points versus the fiscal 2014 first quarter.