New York & Co. will roll out internet-connected kiosks in stores
December 1, 2016 03:52 PM
Women’s apparel retailer New York & Co. Inc. is making it easier for in-store shoppers to buy online.
The retailer plans to roll out internet-connected kiosks in a number of stores during the fourth quarter that will allow shoppers to buy online while they are in store, chief operating officer John Worthington told analysts on the retail chain’s fiscal third quarter 2016 earnings call. He declined to specify how many kiosks there will be per store, which stores will receive them or where those stores are located.
“This new kiosk will provide a virtual endless aisle, offering customers access to all sizes, colors and assortments,” he said, according to a transcript from Seeking Alpha.
New York & Co., No. 217 in the Internet Retailer 2016 Top 500 Guide, does not break out online sales in its quarterly earnings reports. Worthington told analysts on the call that the company posted “strong double-digit” online sales growth during the third quarter.
The fourth quarter is already off to a booming start online, with New York & Co. setting online sales records on Black Friday and Cyber Monday this year, he said.
Helping drive that growth is the retailer’s success in attracting shoppers on mobile devices.
CEO Greg Scott told analysts that improvements to the company’s mobile site and mobile-optimized emails have led to a year-over-year spike in traffic. The number of shoppers on mobile devices increased 45% during the quarter, while 70% of the company’s promotional emails are now opened by shoppers on mobile devices. These gains are boosting revenue, he said.
“We have seen strong performance in our e-commerce business largely driven by increases in our mobile commerce sales,” Scott said on the call. “We continue to grow our email files, which will help drive even stronger traffic and sales results to both e-commerce and stores this holiday season.” Scott declined to specify how much mobile sales have grown year over year.
New York & Co. reported a year-over-year comparable-sales decline, including e-commerce, of 0.7% during the quarter, something Scott says could have been much worse if not for the retailer’s online success.
“During the quarter, mall traffic declines offset strength in our e-commerce business,” he said.
In early November, the retail chain brought in Michelle Pearlman as its new chief marketing officer and executive vice president of e-commerce.
“Michelle brings a unique customer-centric point of view to marketing and e-commerce, which will continue to make our customer our top priority as we move forward,” Scott said.
For the fiscal third quarter ended Oct. 29, New York & Co, reported:
- Net sales of $213.9 million, down 2.7% from $219.8 million last year.
- A net loss of $2.5 million, compared with a $5.3 million loss.
For the first nine months of 2016, New York & Co. reported:
- Net sales of $662.8 million, down 2.4% from $678.8 million last year.
- A net loss of $7.3 million, compared with a $10.2 million loss.