New York City New York & Co. announced plans on Monday to open more outlet stores, based on the positive customer feedback it received on its test stores last year, according to the Associated Press.
The company, which anticipates opening 20 to 25 outlet stores in fiscal 2010, will initially offer clothes and accessories that can be found at its existing retail shops. It will eventually carry products that are exclusive to the outlet locations.
For 2010, the retailer anticipates improved results during the first half of the fiscal year, but cautioned that it expects shoppers to continue to watch their spending.
However, New York & Co. expects start-up costs related to its outlet stores to hurt operating results during the fiscal year's first half.