New York-based New York & Co. Inc. announced a “multilayer” partnership with actress Kate Hudson following reports that its second-quarter net income fell to $3.1 million from $4.8 million a year ago.
Its comparable sales rose 0.6 percent, but there was a decline in total sales from $224 million to $216.4 million year over year, reports Women’s Wear Daily, which it attributes to its reduction in store count and a shift in Mother’s Day sales to the first quarter.
“We were very pleased with our strong operating results in the second quarter with positive comparable store sales, expansion in gross margin and operating profit, which significantly exceeded our guidance…. We believe the company is becoming a key omnichannel shopping destination with sought after celebrity brands, great style and great value,” said Gregory Scott, the company’s CEO. He added that its partnership with Hudson will help set the brand apart from its competition.
The retailer operates 426 stores in addition to its e-commerce site.