New York & Co To Change Its Name To RTW Retailwinds, Launch New Brands

(RTTNews) - New York & Company Inc. (NWY) said that it will be changing its name to RTW Retailwinds, reflecting the ability to grow the portfolio of lifestyle brands into new categories and markets.

The company noted that its multibrand lifestyle platform will accelerate growth of the New York & Company brand through ongoing celebrity partnerships, including collaborations with Eva Mendes, Gabrielle Union and Kate Hudson, while also expanding the recently acquired plus-size brand, Fashion to Figure, as well as introducing several new brands, including a lingerie lifestyle brand and the Kate Hudson Collection that leverage the Company's design capabilities, digital platform, and operational expertise.

The company noted that its goal is to drive sales to well over $1 billion and double digit EBITDA margins.

The company noted that it is on track to achieve adjusted EBITDA of $35 million to $37 million for the fiscal year, up from adjusted EBITDA of $30.5 million in fiscal year 2017.

The company plans to share its strategy at its investor day being held, Wednesday, September 12, 2018.