3/26/14

Stores will play a bigger role in New York & Co.’s web future

New York & Co. grew e-commerce 8% last year and also is working on more plans to use its network of 507 stores in 43 states to drive e-commerce growth, CEO Gregory Scott told Wall Street analysts.

Mark Brohan , Research Director

Specialty apparel chain retailer New York & Co. had a decent year online but going forward the company will use its stores more to grow e-commerce, CEO Gregory Scott told Wall Street analysts on the company’s year-end earnings call.

Though he didn’t elaborate, New York & Co. Inc., No. 273 in the 2013 Internet Retailer Top 500 Guide, in 2013 redesigned its e-commerce site. New York & Co. also is planning to use its network of 507 stores in 43 states to drive e-commerce growth, Scott told analysts.

Last year the company began equipping its store associates with web-enabled tablets and introduced an “Ask Us” program, which allows customers in the store to order an out-of-stock item from another store or place an immediate order online. In 2014 New York & Co. plans on introducing a buy online and ship to store program.

Along with new store-based programs and an updated web site, New York & Co. has ambitious plans to grow e-commerce, Scott said. “I do believe there’s probably continued opportunity as we go out further in the years,” Scott told analysts. “What we are continuing to see is our focus on e-commerce--our focus on our investments in digital technology are the smart investments for us in terms of return to our shareholders. And it's really important that we as a company continue to focus on the growth of e-commerce.”

For the year ended Feb. 1, New York & Co. reported:

New York & Co. didn’t break out web numbers for the fourth quarter but did report:

“Moving forward, we expect to see significant improvement in all of our e-commerce metrics,” Scott told analysts. “The new site truly reflects the new brand and its look and feel, simplified navigation, outfitting suggestions, and an easy one-page checkout process are just some of the features.”

Topics:

2013 earnings, apparel retail chain, Gregory Scott, New York & Co., Top 500

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