Gathering momentum from the better-than-expected first-quarter
fiscal 2013 bottom-line results, shares of
New York & Company, Inc.
) surged to attain a new 52-week high of $5.87 on Jun 4, 2013,
before closing at $5.71. This Zacks Rank #1 (Strong Buy) stock
has generated a year-to-date return of approximately 52%.
Based on the current price, this specialty retailer of women's
fashion attire and accessories is 8.8% above the Zacks Consensus
average analyst price target of $5.25. The company currently
trades at a forward P/E of 55.26x, a sharp premium to the peer
group average of 18.66x.
New York & Company came out with the results for the
recently concluded quarter on May 23, wherein earnings of 2 cents
a share fared better than the Zacks Consensus Estimate's loss of
7 cents as well as from the comparable year-ago quarter's
break-even earnings on the back of improved margins and tax
benefits associated to the reversal of an uncertain tax
If we look at the company's earnings surprise history, New
York & Company has outperformed the Zacks Consensus Estimate
for 5 straight quarters by an average of 60.8%. In the recent
concluded quarter, the company beat the Zacks Estimate by 128.6%.
The long-term expected earnings growth rate for this stock is
Net sales remained almost flat year over year at $227.5
million but came ahead of the Zacks Consensus Estimate of $222
million. Gross profit for the quarter increased 2.8% to $66.3
million, whereas gross margin expanded 90 basis points to 29.2%,
benefiting from increased markups from sourcing efficiencies and
lower product costs.
New York & Company has been witnessing rising earnings
estimates owing to impressive quarterly results. The Zacks
Consensus Estimate for fiscal 2013 jumped to 10 cents a share
from a loss of 3 cents in the last 30 days. For fiscal 2014, the
Zacks Consensus Estimate surged to 24 cents from 9 cents over the
same time frame.
Skechers USA Inc.
Domino's Pizza, Inc.
) achieved new 52-week highs of $23.14, $72.77 and $60.69 on Jun
4, 2013, respectively.
DOMINOS PIZZA (DPZ): Free Stock Analysis
NEW YORK & CO (NWY): Free Stock Analysis
SKECHERS USA-A (SKX): Free Stock Analysis
TARGET CORP (TGT): Free Stock Analysis Report
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