New York & Co. Inc. (NWY) posted third-quarter net loss of $6.30 million or $0.11 per share, compared to a loss of $7.92 million or $0.13 per share in the year-ago quarter. Net sales for the quarter declined to $227.9 million from $249.0 million in the same quarter of last year. Comparable store sales for the third quarter decreased 8.4%, compared to a 14.0% drop in the prior-year period. Analysts polled by Thomson Reuters expected the company to report a loss of $0.08 per share on revenues of $231.89 million.
For the fourth quarter, the company expects comparable store sales trend to sequentially improve due to the positive customer response to the company's merchandise and strong inventory management.
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