New York & Company, Inc.

CIK:0001211351|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019
Consolidated Statements of Operations
Net sales	$ 826,990	$ 893,224
Cost of goods sold, buying and occupancy costs	594,890	614,212
Gross profit	232,100	279,012
Selling, general and administrative expenses	273,456	270,943
Loss from impairment charges	20,569	1,598
Operating (loss) income	(61,925)	6,471
Interest expense, net of interest income of $1,176 and $1,236 respectively	(833)	(813)
Loss on extinguishment of debt		239
(Loss) income before income taxes	(61,092)	7,045
Provision for income taxes	531	2,815
Net (loss) income	$ (61,623)	$ 4,230
Basic (loss) earnings per share	$ (0.96)	$ 0.07
Diluted (loss) earnings per share	$ (0.96)	$ 0.06
Weighted average shares outstanding:
Basic shares of common stock (in shares)	64,346	63,825
Diluted shares of common stock (in shares)	64,346	65,913

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019
Operating activities
Net (loss) income	$ (61,623)	$ 4,230
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities
Depreciation and amortization	19,925	21,044
Non-cash lease expense	45,498
Loss from impairment charges	20,569	1,598
Amortization of intangible assets	188	312
Amortization of deferred financing costs	45	56
Write-off of unamortized deferred financing costs		239
Share-based compensation expense	2,086	2,335
Changes in operating assets and liabilities:
Accounts receivable	879	2,274
Inventories, net	6,681	1,695
Prepaid expenses	(852)	(474)
Accounts payable	(6,878)	6,961
Accrued expenses	1,683	(7,975)
Income taxes payable	(265)	347
Deferred rent		(2,127)
Operating lease liabilities	(48,131)
Other assets and liabilities	(4,348)	(3,443)
Net cash (used in) provided by operating activities	(24,543)	27,072
Investing activities
Capital expenditures	(8,547)	(8,527)
Insurance recoveries	404	375
Net cash used in investing activities	(8,143)	(8,152)
Financing activities
Repayment of long-term debt		(11,750)
Principal payment on capital lease obligations	(1,761)	(1,994)
Payment of financing costs	(380)
Shares withheld for payment of employee payroll taxes	(85)	(580)
Proceeds from exercise of stock options		38
Net cash used in financing activities	(2,226)	(14,286)
Net (decrease) increase in cash and cash equivalents	(34,912)	4,634
Cash and cash equivalents at beginning of period	95,542	90,908
Cash and cash equivalents at end of period	60,630	95,542
Cash paid during the period for interest	182	301
Cash paid during the period for taxes	$ 3,150	$ 616

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Current assets:
Cash and cash equivalents	$ 60,630	$ 95,542
Accounts receivable	9,195	9,879
Inventories, net	76,122	82,803
Prepaid expenses	12,610	16,921
Other current assets	1,174	1,818
Total current assets	159,731	206,963
Property and equipment, net	44,896	63,791
Operating lease assets	189,794
Intangible assets	16,625	16,813
Other assets	938	1,311
Total assets	411,984	288,878
Current liabilities:
Accounts payable	70,172	77,050
Accrued expenses	70,543	68,585
Current operating lease liabilities	40,350
Income taxes payable	110	375
Total current liabilities	181,175	146,010
Non-current operating lease liabilities	189,154
Deferred rent		25,090
Other liabilities	25,698	31,165
Total liabilities	396,027	202,265
Commitments and contingencies
Stockholders' equity:
Common stock, voting, par value $0.001; 300,000 shares authorized; 67,054 and 66,649 shares issued and 65,223 and 64,818 shares outstanding at February 1, 2020 and February 2, 2019, respectively	67	67
Additional paid-in capital	187,021	185,020
Retained deficit	(164,562)	(92,450)
Accumulated other comprehensive loss	(1,484)	(939)
Treasury stock at cost; 1,831 shares at February 1, 2020 and February 2, 2019	(5,085)	(5,085)
Total stockholders' equity	15,957	86,613
Total liabilities and stockholders' equity	$ 411,984	$ 288,878