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New York & Co. swings to loss in fiscal Q1

New York & Co. Inc. said its normalized net income for the fiscal first quarter ended May 3 came to a loss of $14,380, compared with income of $705,000 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.0% from 0.3% in the year-earlier period.

Total revenue fell year over year to $219.6 million from $227.5 million, and total operating expenses declined on an annual basis to $219.5 million from $226.3 million.

Reported net income came to a loss of $282,000, or a loss of 0 cents per share, compared to income of $1.9 million, or 3 cents per share, in the prior-year period.