CUSIP No. 649295102 SCHEDULE 13D
1 Names of Reporting Persons
Kanen Wealth Management, LLC
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(See instructions) (b) [ ]
3 SEC USE ONLY
4 Source of Funds (See Instructions) OO
5 Check if Disclosure of Legal Proceeding is Required
Pursuant to Items 2(d) or 2(e) [ ]
6 Citizenship or Place of Organization
Florida, USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7 Sole Voting Power
634,284
8 Shared Voting Power 0
9 Sole Dispositive Power 634,284
10 Shared Dispositive Power 0
11 Aggregate Amount Beneficially Owned by each Reporting
Person
634,284 (1)
12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
13 Percent of Class Represented by Amount in Row (11)
.99%
14 Type of Reporting Person
IA
(1) KWM is the beneficial owner of 634,284 shares held by the
Philotimo Fund, LP. David L. Kanen is the managing member of KWM
and may be deemed to share voting and dispositive power over such
shares with KWM.
1 Names of Reporting Persons
David Kanen, Managing Member of Kanen Wealth Management, LLC
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(See instructions) (b) [ ]
3 SEC USE ONLY
4 Source of Funds
PF
5 Check if Disclosure of Legal Proceeding is Required
Pursuant to Items 2(d) or 2(e)
6 Citizenship or Place of Organization USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7 Sole Voting Power
66,868
8 Shared Voting Power
3,231,953 (2)
9 Sole Dispositive Power
3,281,953 (3)
10 Shared Dispositive Power
0
11 Aggregate Amount Beneficially Owned by each Reporting
Person
3,281,953
12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
13 Percent of Class Represented by Amount in Row (11)
5.09%
14 Type of Reporting Person
IA
(2) Includes 66,896 shares of Common Stock held by Mr. Kanen
for his own account.
(3) Represents 2,647,669 shares of Common Stock held by Mr. Kanen
for his own account and held in customer accounts, over all of
which KWM has dispositive power pursuant to investment advisory
agreements. KWM has discretionary voting rights 2,597,669 shares.
Mr. Kanen is the managing member of KWM and may be deemed to
share voting and dispositive power over such shares with KWM.
Item 1. Security and Issuer.
This Schedule 13D relates to the common stock (the "Common Stock")
of New York & Company, Inc (the "Issuer").
Item 2. Identity and Background.
(a)
This statement is filed by:
(i) Kanen Wealth Management LLC ("KWM"), an investment adviser
registered as such in Florida, New York and Texas; and
(ii) David L. Kanen, the managing member of KWM.
The foregoing persons are hereinafter sometimes collectively
referred to as the "Reporting Persons." Any disclosures
herein with respect to persons other than the Reporting
Persons are made on information and belief after making
inquiry of the appropriate party.
(b) The principal business address of the Reporting Persons
is 5850 Coral Ridge Drive, Suite 309 Coral Springs, FL 33076.
(c) KWM is a registered investment adviser as set forth in
Item 2(a) above. The principal business of KWM is purchasing,
holding and selling securities for investment purposes.
Mr. Kanen is the managing member of KWM.
(d) None of the Reporting Persons have, during the last five years,
been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors).
(e) None of the Reporting Persons have, during the last five years,
been a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and, as a result of such proceeding,
was, or is subject to, a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating
activities subject to, Federal or State securities laws or finding
any violation with respect to such laws.
(f) KWM is a limited liability company organized under the laws
of the State of Florida. Mr. Kanen is a citizen of the United
States of America.
Item 3. Source or Amount of Funds or Other Consideration.
The Reporting Persons purchased the shares of Common Stock of the
Issuer in the ordinary course of business. The Common Stock of the
Issuer beneficially owned by KWM was acquired on behalf of the
investment advisory clients of KWM under discretionary authority
granted by KWM. In addition, Mr. Kanen purchased Common Stock of
the Issuer for his own account. Because substantially all of the
shares of Common Stock beneficially owned by KWM were acquired by
customers prior to entering into investment advisory agreements
with KWM, the aggregate amount of funds used to acquire the
Common Stock set forth in this Item 3 is to the best knowledge
of the Reporting Persons. In addition, none of the funds used
to purchase the Common Stock of the Issuer were provided through
borrowings of any nature.The aggregate amount of funds used
to purchase all of the Common Stock reported in this filing
totaled approximately $6,621,85.
Item 4. Purpose of Transaction.
The 66,896 shares of Common Stock beneficially owned by Mr. Kanen
for his own account were purchased and are held by Mr. Kanen for
investment purposes. Depending on market conditions and other
factors Mr. Kanen may deem relevant, Mr. Kanen may acquire
additional shares of the Common Stock, or dispose of the
shares of Common Stock, from time to time, in open market
or privately negotiated transactions.
The 2,647,669 shares beneficially owned by KWM were purchased
and are held for investment purposes on behalf of client accounts
over which KWM, together with Mr. Kanen, has sole discretionary
dispositive and voting power. Depending on market conditions
and other factors KWM may deem relevant, KWM may, on behalf of
client accounts as part of its ongoing portfolio management
process, acquire additional shares of the Common Stock, or
dispose of the shares of Common Stock, from time to time,
in open market or privately negotiated transactions.
KWM is the beneficial owner of 634,284 shares held for the
Philotimo Fund, LP. Depending on market conditions and
other factors KWM may deem relevant, KWM may, on behalf of
the fund as part of its ongoing portfolio management process,
acquire additional shares of the Common Stock,
or dispose of the shares of Common Stock, from time to time,
in open market or privately negotiated transactions.
Item 5. Interest in Securities of the Issuer.
(a)-(b) KWM may be deemed, for purposes of Rule 13d-3 under
the Securities Exchange Act of 1934, as amended, to be the
beneficial owner of an aggregate of 634,284 shares of Common
Stock which represent 0.99% of the Issuer's outstanding
shares of Common Stock.
(i) Sole power to vote or direct vote: 634,284
(ii) Shared power to vote or direct vote: 0
(iii) Sole power to dispose of or direct the disposition:
634,284
(iv) Shared power to dispose of or direct the disposition: 0
Mr. Kanen may be deemed, for purposes of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended, to be the
beneficial owner of an aggregate of 3,281,953 shares of Common
Stock which represent 5% of the Issuer's outstanding shares
of Common Stock.
(i) Sole power to vote or direct vote: 66,896
(ii) Shared power to vote or direct vote: 3,231,953
(iii) Sole power to dispose of or direct the disposition:
3,281,953
(iv) Shared power to dispose of or direct the disposition: 0
For purposes of calculating the percentages set forth in this
Item 5, the number of shares of Common Stock outstanding is
64,437,073, as of the date of April 24, 2017.
KWM, in its role as investment manager to several customer
accounts (collectively, the "Accounts") to which it furnishes
investment advice, and Mr. Kanen, as the managing member of KWM,
may each be deemed to beneficially own shares of the Issuer's
Common Stock held in the Accounts.
In addition to those shares of Common Stock held in the Accounts
over which Mr. Kanen shares voting and/or dispositive power with
KWM, Mr. Kanen beneficially owns 66,896 shares of the Issuer's
Common Stock held for his own account.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
Except for the investment advisory agreements between the
Reporting Persons and the owners of the Accounts, there are
no contracts, arrangements, understandings or relationships
(legal or otherwise) between the Reporting Persons and any
other person with respect to any
securities of the Issuer.
Item 7. Material to Be Filed as Exhibits.
Exhibit A - Letter from KWM to the Issuer's Board of Directors,
April 26, 2017
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in
this statement is true, complete and correct.
April 25, 2017
Date
KANEN WEALTH MANAGEMENT LLC
/s/ David L. Kanen
Signature
David L. Kanen, Managing Member
Name/Title
DAVID L. KANEN
/s/ David L. Kanen
Signature
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