NEW YORK--(BUSINESS WIRE)--New York & Company, Inc. (NYSE:NWY), a specialty apparel chain with 487 retail stores, today announced that its Board of Directors has authorized the repurchase of up to $5 million of the Company’s common stock over the next 12 months. Repurchases, if any, will be made from time to time in the manner the Company believes appropriate, through open market or private transactions including through pre-established trading plans.

Gregory Scott, New York & Company’s CEO stated: “We are pleased to announce the authorization of a share repurchase program. We believe the Board’s approval of a $5 million share repurchase program demonstrates confidence in our strategy and long-term growth, as well as our commitment to enhance shareholder value.”

Purchases, if any, will be made in compliance with Securities and Exchange Commission rules and regulations, subject to market conditions, applicable legal requirements, and other relevant factors. The Company is not obligated to acquire any particular amount of common stock.

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 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 through its national network of retail stores and online at www.nyandcompany.com. The Company operates 487 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.