“We are at a defining moment in our corporate reinvention, with a proven track record for developing celebrity and sub-brand collections that resonate with our consumers,” said Greg Scott, CEO of New York & Company. “Our goal is to drive sales to well over $1 billion and double digit EBITDA margins.”
The company has been working on the foundation of this launch for several years, Scott said. New York & Company annually has 165 million visits, a 30 million follower social reach and ecommerce reaching 30 percent of all sales, according to the company.
“We have optimized our retail footprint, and have the talent and infrastructure to capitalize on our strengths,” he said.
Other strategies include expanding it’s Fashion to Figure plus-size brand, introduce lingerie and grow its loyalty program that already accounts for more than 43 percent of sales.
There is a New York & Company store at the Dayton Mall and five in the Cincinnati area.
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