The NYC-based specialty apparel retailer, formerly known as New York & Company, reported improved Q3 earnings off the back of improved margins on Thursday, as the group moves forward with its new rebranding strategy.
YNAP said its Cyber Weekend lived up to predictions with a strong rise in demand for “fine jewellery and watches, partywear and exclusive items as luxury customers treated themselves to something special.”
As store sales fall and purchases shift online over the Thanksgiving weekend, most U.S. retailers have boosted their web offerings but many still overlook the sales impact from opening their doors on Thursday evening.
In-store retail spending for indy fashion retailers over the Black Friday shopping period was up 55% compared to an average week, but the discounting rate was 480% higher, as they worked hard to attract consumer spend.
John Lewis had a much better time of the seven days to November 24 than recently with its parent company seeing sales up 4.2% to almost £380 million but the department store chain and its webstore leaping ahead by 7.7%.