Exhibit 99.1

FINAL: FOR RELEASE

NEW YORK & COMPANY, INC. ANNOUNCES INCREASED SALES AND PROFITABILITY FOR THE 2015 FOURTH QUARTER AND FISCAL YEAR

~ 4th Consecutive Quarter of Positive Comparable Store Sales Growth ~

~ Comparable Store Sales Increased 1.9% in Fourth Quarter and 3.1% in Full Year ~

~ Introduces Q1 Guidance of Diluted EPS of $0.02 to $0.04 Per Share

~ Expects Positive Comps and Operating Income Improving to Best Level Since 2008 ~

New York, New York — March 17, 2016 — New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 490 retail stores, today announced results for the fourth quarter and fiscal year ended January 30, 2016.

Gregory Scott, New York & Company’s CEO stated: “We finished the year strongly capping off another successful year of growth and continued progress toward our long term goals. The fourth quarter was highlighted by increased sales, positive comparable sales, expansion in gross margin and a reduction in expenses. Combined, this drove a $7.0 million improvement in GAAP operating income and a $1.1 million increase in non-GAAP adjusted net income versus the fourth quarter of 2014.”

“Our performance continues to demonstrate that our strategies are focused on making New York & Company a leading apparel destination by creating differentiated assortments with exclusive celebrity collections and sub-brands including the Eva Mendes Collection and Jennifer Hudson for Soho Jeans collection, by connecting more closely with our customers with high impact marketing and loyalty programs, by evolving our omni-channel capabilities so we are able to serve our customers wherever and whenever they choose to shop and by continuing to achieve our efficiency goals as we execute our Project Excellence cost reduction program. These strategies drove four consecutive quarters of increased comparable store sales and a significant improvement in our profitability for the 2015 fiscal year and provide us with a great platform to continue our favorable momentum in fiscal 2016.”

Fourth Quarter Fiscal Year 2015 Results (13-weeks ended January 30, 2016 compared to the 13-weeks ended January 31, 2015):

· Net sales were $271.3 million, as compared to $267.4 million in the prior year.

· Comparable store sales increased 1.9% and total net sales increased by 1.5%.

· Gross profit as a percentage of net sales increased 10 basis points to 25.7% versus the fiscal year 2014 fourth quarter gross profit percentage of 25.6%. This improvement reflects a 130 basis point increase in product margins due to reduced product costs, a 110 basis point improvement in the leverage of buying and occupancy expense due to reductions in store occupancy costs and buying payroll offset by a 230 basis point

increase in other cost of goods sold, principally shipping costs associated with the significant growth in the Company’s eCommerce sales.

· Selling, general and administrative expenses were $69.2 million, as compared to $74.7 million in the prior year period. Excluding non-operating charges of $0.6 million and $6.4 million for the three months ended January 30, 2016 and January 31, 2015, respectively, selling, general and administrative expenses were $68.5 million, or 25.3% of net sales, as compared to $68.4 million, or 25.6% of net sales in the prior year. The 30 basis point improvement in selling, general, and administrative expenses, excluding the non-operating charges, reflects reductions in performance-based compensation expenses and the reversal of amounts previously accrued, combined with decreases in marketing and payroll, partially offset by significant increases in variable expenses associated with the growth in eCommerce sales.

· GAAP operating results improved by $7.0 million to income of $0.6 million, as compared to the prior year’s fourth quarter GAAP operating loss of $6.4 million. On a non-GAAP basis, excluding $0.6 million of non-operating charges, adjusted operating income was $1.3 million, an improvement of $1.3 million from the prior year’s non-GAAP breakeven operating results, which excluded $6.4 million of non-operating charges.

· GAAP net income for the fourth quarter of fiscal year 2015 was $0.1 million, or breakeven per diluted share. This compares to the prior year’s GAAP net loss of $6.7 million, or a loss of $0.11 per diluted share. On a non-GAAP basis, the Company’s fourth quarter 2015 adjusted net income was $0.7 million, or $0.01 per diluted share. This compares to the prior year’s fourth quarter non-GAAP adjusted net loss of $0.4 million, or a loss of $0.01 per diluted share.

Please refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” in Exhibits 5 and 6 of this press release, which delineate the non-operating charges for the three and twelve months ended January 30, 2016 and January 31, 2015, respectively. GAAP is defined as Generally Accepted Accounting Principles.

· Total quarter-end inventory decreased 6.4%, as compared to the end of last year’s fourth quarter, due to lower levels of inventory in-transit as the Company changed shipping terms with certain vendors to take title later in the supply chain, as well as transitioned its supply chain back to West Coast ports. Inventory on-hand increased 6.2% as the Company positioned inventory for the Spring selling period.

· Capital spending for the fourth quarter of fiscal year 2015 was $5.8 million, as compared to $5.8 million in last year’s fourth quarter, primarily reflecting spend on the Company’s information technology infrastructure, due in large part to the expansion of its omni-channel strategy.

· The Company closed 18 New York & Company stores during the fourth quarter, ending the fiscal year with 490 stores, including 82 Outlet stores, and 2.5 million selling square feet in operation.

About New York & Company

New York & Company, Inc. is a specialty retailer of women’s fashion apparel and accessories, and the modern wear-to-work destination for women, providing perfectly fitting pants and NY Style that is feminine, polished, on-trend and versatile. New York & Company, Inc. helps its customers feel confident, put-together, attractive and stylish by providing affordable fashion. The Company’s proprietary branded New York & Company® merchandise is sold exclusively through its national network of retail stores and online at www.nyandcompany.com. The Company operates 490 stores in 41 states. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company’s website: www.nyandcompany.com.

Investor/Media Contact:

ICR, Inc.

(203) 682-8200

Investor: Allison Malkin

Forward-looking Statements

This press release contains certain forward looking statements, including statements made under “Outlook” and “Additional Outlook,” 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 are subject to various risks and uncertainties that could cause actual results to differ materially. These include, but are not limited to: (i) the impact of general economic conditions and their effect on consumer confidence and spending patterns; (ii) changes in the cost of raw materials, distribution services or labor; (iii) the potential for current economic conditions to negatively impact the Company’s merchandise vendors and their ability to deliver products; (iv) the Company’s ability to open and operate stores successfully; (v) the Company’s ability to fully recognize the potential savings identified through Project Excellence; (vi) seasonal fluctuations in the Company’s business; (vii) the Company’s ability to anticipate and respond to fashion trends; (viii) the Company’s dependence on mall traffic for its sales; (ix) competition in the Company’s market, including promotional and pricing competition; (x) the Company’s ability to retain, recruit and train key personnel; (xi) the Company’s reliance on third parties to manage some aspects of its business; (xii) the Company’s reliance on foreign sources of production; (xiii) the Company’s ability to protect its trademarks and other intellectual property rights; (xiv) the Company’s ability to maintain, and its reliance on, its information technology infrastructure; (xv) the effects of government regulation; (xvi) the control of the Company by its sponsors and any potential change of ownership of those sponsors; and (xvii) 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.

Exhibit (1)

New York & Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited)

(Amounts in thousands, except per share amounts)	Three months ended January 30, 2016		% of net sales		Three months ended January 31, 2015			% of net sales
Net sales	$	271,272	100.0	%	$	267,359		100.0	%

Cost of goods sold, buying and occupancy costs	201,492		74.3	%	198,983			74.4	%

Gross profit	69,780		25.7	%	68,376			25.6	%

Selling, general and administrative expenses	69,158		25.5	%	74,739			28.0	%

Operating income (loss)	622		0.2	%	(6,363		)	(2.4	)%

Interest expense, net of interest income	304		0.1	%	292			0.1	%

Income (loss) before income taxes	318		0.1	%	(6,655		)	(2.5	)%

Provision for income taxes	234		0.1	%	65			—	%

Net income (loss)	$	84	—	%	$	(6,720	)	(2.5	)%


Basic income (loss) per share	$	0.00			$	(0.11	)

Diluted income (loss) per share	$	0.00			$	(0.11	)

Weighted average shares outstanding:
Basic shares of common stock	63,233				62,933
Diluted shares of common stock	63,607				62,933

Selected operating data:

(Dollars in thousands, except square foot data)
Comparable store sales increase (decrease)	1.9		%	(0.9		)%
Net sales per average selling square foot (a)	$	106		$	102
Net sales per average store (b)	$	544		$	526
Average selling square footage per store (c)	5,125			5,153
Ending store count	490			504

(a) Net sales per average selling square foot is defined as net sales divided by the average of beginning and end of period selling square feet.

(b) Net sales per average store is defined as net sales divided by the average of beginning and end of period number of stores.

(c) Average selling square footage per store is defined as end of period selling square feet divided by end of period number of stores.

Exhibit (2)

New York & Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited)

(Amounts in thousands, except per share amounts)	Twelve months ended January 30, 2016			% of net sales		Twelve months ended January 31, 2015			% of net sales
Net sales	$	950,108		100.0	%	$	923,332		100.0	%

Cost of goods sold, buying and occupancy costs	685,253			72.1	%	673,557			72.9	%

Gross profit	264,855			27.9	%	249,775			27.1	%

Selling, general and administrative expenses	272,960			28.8	%	265,371			28.8	%

Operating loss	(8,105		)	(0.9	)%	(15,596		)	(1.7	)%

Interest expense, net of interest income	1,227			0.1	%	573			—	%

Loss before income taxes	(9,332		)	(1.0	)%	(16,169		)	(1.7	)%

Provision for income taxes	737			0.1	%	716			0.1	%

Net loss	$	(10,069	)	(1.1	)%	$	(16,885	)	(1.8	)%

Basic loss per share	$	(0.16	)			$	(0.27	)

Diluted loss per share	$	(0.16	)			$	(0.27	)

Weighted average shares outstanding:
Basic shares of common stock	63,154					62,825
Diluted shares of common stock	63,154					62,825

Selected operating data:

(Dollars in thousands, except square foot data)
Comparable store sales increase (decrease)	3.1		%	(1.0		)%
Net sales per average selling square foot (a)	$	372		$	353
Net sales per average store (b)	$	1,912		$	1,825
Average selling square footage per store (c)	5,125			5,153

(a) Net sales per average selling square foot is defined as net sales divided by the average of beginning and end of period selling square feet.

(b) Net sales per average store is defined as net sales divided by the average of beginning and end of period number of stores.

(c) Average selling square footage per store is defined as end of period selling square feet divided by end of period number of stores.

Exhibit (3)

New York & Company, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Amounts in thousands)	January 30, 2016		January 31, 2015
	(Unaudited)		(Audited)
Assets
Current assets:
Cash and cash equivalents	$	61,432	$	69,293
Restricted cash	—		1,509
Accounts receivable	8,208		7,406
Income taxes receivable	47		99
Inventories, net	87,777		93,791
Prepaid expenses	19,442		20,581
Other current assets	858		1,121
Total current assets	177,764		193,800

Property and equipment, net	88,831		84,374
Intangible assets	14,879		14,879
Deferred income taxes (a)	—		6,660
Other assets	1,986		1,541
Total assets	$	283,460	$	301,254
Liabilities and stockholders’ equity
Current liabilities:
Current portion—long-term debt	$	841	$	866
Accounts payable	82,225		86,481
Accrued expenses	52,424		52,418
Income taxes payable	239		710
Deferred income taxes (a)	—		6,660
Total current liabilities	135,729		147,135

Long-term debt, net of current portion	12,326		13,258
Deferred rent	34,351		35,169
Other liabilities	7,283		6,333
Total liabilities	189,689		201,895

Total stockholders’ equity	93,771		99,359
Total liabilities and stockholders’ equity	$	283,460	$	301,254

(a) In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-17, “Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”), which requires an entity to classify deferred tax liabilities and assets as non-current within a classified statement of financial position. On January 30, 2016, the Company adopted ASU 2015-17 prospectively. Prior periods were not retrospectively adjusted. The Company continues to maintain a valuation allowance against its deferred tax assets until the Company believes it is more likely than not that these assets will be realized in the future.

Exhibit (4)

New York & Company, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows

(Amounts in thousands)	Twelve months ended January 30, 2016			Twelve months ended January 31, 2015
	(Unaudited)			(Audited)
Operating activities
Net loss	$	(10,069	)	$	(16,885	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	24,181			27,315
Loss from impairment charges	327			911
Amortization of deferred financing costs	201			131
Share-based compensation expense	3,867			4,089
Changes in operating assets and liabilities:
Restricted cash	1,509			(1,509		)
Accounts receivable	(948		)	(380		)
Income taxes receivable	52			—
Inventories, net	6,014			(10,312		)
Prepaid expenses	1,139			560
Accounts payable	(4,256		)	10,607
Accrued expenses	(417		)	5,538
Income taxes payable	(471		)	(365		)
Deferred rent	(818		)	(4,756		)
Other assets and liabilities	338			(2,944		)
Net cash provided by operating activities	20,649			12,000

Investing activities
Capital expenditures	(26,648		)	(26,781		)
Insurance recoveries	146			254
Net cash used in investing activities	(26,502		)	(26,527		)

Financing activities
Proceeds from issuance of long-term debt	—			15,000
Repayment of long-term debt	(1,000		)	(250		)
Payment of financing costs	(161		)	(566		)
Proceeds from exercise of stock options	16			299
Shares withheld for payment of employee payroll taxes	(297		)	(284		)
Principal payments on capital lease obligations	(566		)	(102		)
Net cash (used in) provided by financing activities	(2,008		)	14,097

Net decrease in cash and cash equivalents	(7,861		)	(430		)
Cash and cash equivalents at beginning of period	69,293			69,723
Cash and cash equivalents at end of period	$	61,432		$	69,293
Non-cash capital lease transactions	$	2,317		$	2,267

Exhibit (5)

New York & Company, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited)

A reconciliation of the Company’s GAAP to non-GAAP selling, general, and administrative expenses, operating income (loss), net income (loss), and earnings (loss) per diluted share for the three months ended January 30, 2016 and January 31, 2015 is indicated below. This information reflects, on a non-GAAP basis, the Company’s adjusted operating results after excluding certain non-operating charges consisting primarily of consulting fees associated with Project Excellence, certain severance expenses, duplicative rent expense related to the relocation of the Company’s corporate headquarters, and certain legal expenses. This non-GAAP financial information is provided to enhance the user’s overall understanding of the Company’s current financial performance. Specifically, the Company believes the non-GAAP adjusted results provide useful information to both management and investors by excluding expenses that the Company believes are not indicative of the Company’s continuing operating results. The non-GAAP financial information should be considered in addition to, not as a substitute for or as being superior to, measures of financial performance prepared in accordance with GAAP.

	Three months ended January 30, 2016
(Amounts in thousands, except per share amounts)	Selling, general and administrative expenses			Operating income			Net income			Earnings per diluted share

GAAP as reported	$	69,158		$	622		$	84		$	0.00
Adjustments affecting comparability
Consulting expense	24			24			24
Severance expense	636			636			636
Net reduction of BHQ moving expenses	(20		)	(20		)	(20		)
Executive relocation expense	146			146			146
Reversal of legal expense accrual	(145		)	(145		)	(145		)
Total adjustments (1)	641			641			641			0.01
Non-GAAP as adjusted	$	68,517		$	1,263		$	725		$	0.01

	Three months ended January 31, 2015
(Amounts in thousands, except per share amounts)	Selling, general and administrative expenses		Operating loss			Net loss			Loss per diluted share

GAAP as reported	$	74,739	$	(6,363	)	$	(6,720	)	$	(0.11	)
Adjustments affecting comparability
Consulting expense	693		693			693
Severance expense	2,258		2,258			2,258
Duplicative rent expense — new BHQ office space	3,156		3,156			3,156
Legal expense	250		250			250
Total adjustments (1)	6,357		6,357			6,357			0.10
Non-GAAP as adjusted	$	68,382	$	(6	)	$	(363	)	$	(0.01	)

(1) The tax effect of $0.6 million and $6.4 million of expenses during the three months ended January 30, 2016 and January 31, 2015, respectively, is offset by a full valuation allowance against deferred tax assets.

Exhibit (6)

New York & Company, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited)

A reconciliation of the Company’s GAAP to non-GAAP selling, general, and administrative expenses, operating loss, net loss and loss per diluted share for the twelve months ended January 30, 2016 and January 31, 2015 is indicated below. This information reflects, on a non-GAAP adjusted basis, the Company’s operating results after excluding certain non-operating charges consisting primarily of consulting fees associated with Project Excellence, certain severance expenses, duplicative rent expense related to the relocation of the Company’s corporate headquarters, and charges related to a settlement of a wage and hour class action lawsuit in the state of California. This non-GAAP financial information is provided to enhance the user’s overall understanding of the Company’s current financial performance. Specifically, the Company believes the non-GAAP adjusted results provide useful information to both management and investors by excluding expenses that the Company believes are not indicative of the Company’s continuing operating results. The non-GAAP financial information should be considered in addition to, not as a substitute for or as being superior to, measures of financial performance prepared in accordance with GAAP.

	Twelve months ended January 30, 2016
(Amounts in thousands, except per share amounts)	Selling, general and administrative expenses			Operating loss			Net loss			Loss per diluted share

GAAP as reported	$	272,960		$	(8,105	)	$	(10,069	)	$	(0.16	)
Adjustments affecting comparability
Consulting expense	3,129			3,129			3,129
Severance expense	2,213			2,213			2,213
Net reduction of BHQ moving expenses	(124		)	(124		)	(124		)
Executive relocation expense	146			146			146
Legal expense	2,452			2,452			2,452
Total adjustments (1)	7,816			7,816			7,816			0.12
Non-GAAP as adjusted	$	265,144		$	(289	)	$	(2,253	)	$	(0.04	)

	Twelve months ended January 31, 2015
(Amounts in thousands, except per share amounts)	Selling, general and administrative expenses		Operating loss			Net loss			Loss per diluted share

GAAP as reported	$	265,371	$	(15,596	)	$	(16,885	)	$	(0.27	)
Adjustments affecting comparability
Consulting expense	1,693		1,693			1,693
Severance expense	2,989		2,989			2,989
Duplicative rent expense — new BHQ office space	4,118		4,118			4,118
Executive recruiting expense	102		102			102
Legal expense	250		250			250
Total adjustments (1)	9,152		9,152			9,152			0.15
Non-GAAP as adjusted	$	256,219	$	(6,444	)	$	(7,733	)	$	(0.12	)

(1) The tax effect of $7.8 million and $9.2 million of expenses during the twelve months ended January 30, 2016 and January 31, 2015, respectively, is offset by a full valuation allowance against deferred tax assets.