The rebranding of New York & Co., once a stalwart apparel retailer first introduced about a hundred years ago, hasn’t done much for RTW’s prospects in the last couple of years.
Despite its efforts to boost e-commerce and shrink its physical footprint from 432 stores at the beginning of 2018 to 387 — a tricky business in apparel — RTW continued to experience headwinds rather than tailwinds. Sales declined steadily in the past five years, and last year operating loss reached nearly $62 million. This year has also been tough, as RTW shook up its C-suite and fell out of compliance with the New York Stock Exchange’s trading rules when its shares dipped below $1.
