New York & Co. narrows loss in Q1

New York City -- New York & Co. reported Thursday a loss of $3.7 million in the first quarter, compared with a loss of $4.9 million a year ago. Sales rose to $239.4 million from $237 million. Same-store sales increased 2.5%. The company said it expects to close eight stores and remodel six existing locations, ending the second quarter of fiscal year 2011 with 545 stores, including 24 outlet stores.