New York & Company, Inc. Added to the Russell 2000 and Russell 3000 Indexes
June 29 2018 - 1:00PM
Business Wire
New York & Company, Inc. (NYSE:NWY) was added as a
member of the US small-cap Russell 2000® Index, effective
after the US market opened on June 25, as part of the 2018 Russell
indexes reconstitution. Membership in the Russell 2000® Index,
which remains in place for one year, is based on membership in the
broad-market Russell 3000® Index. The stock also was
automatically added to the appropriate growth and value
indexes.
“We are pleased to be recognized for inclusion in the Russell
2000 index which is a reflection of our efforts to increase
shareholder value and will increase our exposure with a broader
group of institutional investors,” said Greg Scott, CEO, New York
& Company. “This important milestone reflects our ongoing
transformation to an omni-channel lifestyle brand platform with a
dominant digital channel.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 trillion in assets
are benchmarked against Russell’s US indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 2000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About New York &
Company:
New York & Company, Inc. is an omni-channel women’s fashion
retailer providing curated lifestyle solutions that are versatile,
on-trend, and stylish at a great value. The specialty retailer,
first incorporated in 1918, has grown to now operate 432 retail and
outlet locations in 36 states while also growing a substantial
eCommerce business. Its branded merchandise, including
collaborations with Eva Mendes and Gabrielle Union, is sold
exclusively at these locations and online at www.nyandcompany.com.
Additionally, certain product, press releases and SEC filing
information concerning the Company are available at the Company's
website: www.nyandcompany.com.
About FTSE
Russell:
FTSE Russell is a leading global index provider creating and
managing a wide range of indexes, data and analytic solutions to
meet client needs across asset classes, style and strategies.
Covering 98% of the investable market, FTSE Russell indexes offer a
true picture of global markets, combined with the specialist
knowledge gained from developing local benchmarks around the
world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $16.2
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com
Forward-Looking Statements
This press release contains certain forward-looking statements,
including statements made within the meaning of the safe harbor
provisions of the United States Private Securities Litigation
Reform Act of 1995. Some of these statements can be identified by
terms and phrases such as “expect,” “anticipate,” “believe,”
“intend,” “estimate,” “continue,” “could,” “may,” “plan,”
“project,” “predict,” and similar expressions and references to
assumptions that the Company believes are reasonable and relate to
its future prospects, developments and business strategies. Such
statements, including information under “Outlook” and “Additional
Outlook” above, are subject to various risks and uncertainties that
could cause actual results to differ materially. These include, but
are not limited to: (i) the Company’s dependence on mall traffic
for its sales and the continued reduction in the volume of mall
traffic; (ii) the Company’s ability to anticipate and respond to
fashion trends; (iii) the impact of general economic conditions and
their effect on consumer confidence and spending patterns; (iv)
changes in the cost of raw materials, distribution services or
labor; (v) the potential for economic conditions to negatively
impact the Company's merchandise vendors and their ability to
deliver products; (vi) the Company’s ability to open and operate
stores successfully; (vii) seasonal fluctuations in the Company’s
business; (viii) competition in the Company’s market, including
promotional and pricing competition; (ix) the Company’s ability to
retain, recruit and train key personnel; (x) the Company’s reliance
on third parties to manage some aspects of its business; (xi) the
Company’s reliance on foreign sources of production; (xii) the
Company’s ability to protect its trademarks and other intellectual
property rights; (xiii) the Company’s ability to maintain, and its
reliance on, its information technology infrastructure; (xiv) the
effects of government regulation; (xv) the control of the Company
by its largest shareholder and any potential change of ownership of
the Company including the shares held by its largest shareholder;
and (xvi) other risks and uncertainties as described in the
Company’s documents filed with the SEC, including its most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q. The Company undertakes no obligation to revise the
forward-looking statements included in this press release to
reflect any future events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20180629005552/en/
Investors:ICR, Inc.Allison Malkin, 203-682-8200
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