~ The multi-year successful collaboration with Eva Mendes has been extended ~
~ Strong cash flow position of $83 million at end of 2019 second quarter and no debt provide significant financial flexibility to deliver on its strategy ~
NEW YORK–(BUSINESS WIRE)–RTW Retailwinds, Inc. [NYSE:RTW], formerly known as New York & Company, Inc. [NYSE: NWY], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, announced today the extension of its highly successful collaboration with actress and style icon Eva Mendes. This successful partnership is now in its 6th year.
The Eva Mendes collection marked the Company’s first celebrity offering and has proven to be a key brand platform at New York & Company – driving incremental customers to its stores, eCommerce and brands. Eva Mendes collaborates with New York & Company on her collection of apparel and accessories and markets her brand across key media outlets. Eva Mendes sales approximated $40 million in fiscal 2018 with seasonal collections delivered four times a year, providing customers with a full array of day into evening outfits. Based on the success of this celebrity collaboration, RTW followed with exclusive collaborations with Gabrielle Union and Kate Hudson. Each of these brands are exclusive to New York & Company.
In addition to New York & Company, RTW Retailwinds’ digitally dominant multi-brand portfolio includes Fashion to Figure and Happy x Nature, Kate Hudson’s first ready-to-wear collection.
Commenting on the Company’s successful Eva Mendes collaboration and the continued transformation of RTW Retailwinds, Greg Scott, Chief Executive Officer stated: “We are excited to extend our multi-year Eva Mendes collaboration. Eva Mendes continues to provide a strong source of customer acquisition to our brand, and our customers are highly engaged with her. The actress and style icon, Eva Mendes, brings a level of interest and traffic to the brand that differentiates our stores with unique product. The collection has been a strong contributor to our overall growth since it launched in September 2013 and marked our initial foray into celebrity partnerships. These celebrity relationships provide a strong halo to our Company, garnering substantial media impressions year over year. Our strong cash position ($83 million at August 3, 2019) allows us to invest in celebrity partnerships and build our multi-brand digital platform. We look forward to our continued partnership, as Eva Mendes has been an amazing partner to us over the last 6 years, and we are excited about the extension of our relationship.”
About RTW Retailwinds
RTW Retailwinds, Inc. is a specialty women’s omni-channel and digitally enabled retailer with a powerful multi-brand lifestyle platform 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 411 retail and outlet locations in 35 states while also growing a substantial eCommerce business. The Company’s portfolio includes branded merchandise from New York & Company, Fashion to Figure, Happy x Nature, and collaborations with Eva Mendes, Gabrielle Union and Kate Hudson. Its branded merchandise is sold exclusively at its retail and outlet locations and online at www.nyandcompany.com, www.fashiontofigure.com, www.happyxnature.com, and through its subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com. Additionally, certain product, press releases and SEC filing information concerning the Company are available at the Company’s website: www.nyandcompany.com.
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 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.
Investor: Allison Malkin