Apparel and accessories retailer New York & Co. Inc. is counting on an updated website to induce consumers to spend more online.
The retailer is in the process of redesigning its website and making improvements aimed at getting shoppers to buy more, chief operating officer John Worthington told analysts on the retail chain’s fiscal Q1 2017 earnings call late last week.
“We’ll focus on increasing units per transaction as we enhance the recommendation feature on our site as part of our web redesign to drive more outfit dressing,” Worthington said, according to a transcript from Seeking Alpha. Worthington did not further specify additional upgrades to the website or when shoppers should expect to see those changes.
New York & Co., No. 164 in the Internet Retailer Top 500, reported that it grew its online sales by an unspecified double-digit margin during the fiscal first quarter of 2017 ended April 29. The retailer also said it finished the quarter with 463 store locations, or 5.1% fewer than the 488 it had at the end of Q1 2016. CEO Greg Scott said store inventory levels were down by an average of 8% per store, while the overall inventory online grew by an unspecified percentage.
“While reduced mall traffic led to a softness in our New York & Co. stores, our traffic online continues to grow,” he said.
For the fiscal first quarter ended April 29, New York & Co. reported:
- Net sales of $209.9 million, down 2.9% from $216.0 million during the same time last year.
- A year-over-year comparable store sales including e-commerce decline of 0.7%, compared to a 2.3% decline last year.
- A net loss of $4.2 million, compared to a $5.7 million loss last year.