Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DeWolf John
   2. Issuer Name and Ticker or Trading Symbol
New York & Company, Inc. [NWY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, Real Estate and Strategic
(Last)
(First)
(Middle)
450 WEST 33RD STREET, 5TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
10/13/2008
(Street)

NEW YORK, NY 10001		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (1) 10/13/2008   S   10,000 D $ 5.088 19,362 D  
Common Stock (2)               10,000 I Immediate Family Members

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options to Purchase Common Stock $ 4.74               (3) 03/19/2018 Common Stock 75,000   75,000 D  
Options to Purchase Common Stock $ 16               (4) 03/21/2017 Common Stock 10,000   10,000 D  
Options to Purchase Common Stock $ 15.76               (5) 03/15/2016 Common Stock 25,000   25,000 D  
Options to Purchase Common Stock $ 17               (6) 10/06/2014 Common Stock 174,968   174,968 D  
Options to Purchase Common Stock $ 0.11               (6) 04/02/2013 Common Stock 50,234   50,234 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DeWolf John
450 WEST 33RD STREET
5TH FLOOR
NEW YORK, NY 10001		       EVP, Real Estate and Strategic  

Signatures

 /s/ John DeWolf   10/14/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This sale of Common Stock is pursuant to the reporting person's 10b5-1 Plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
(2) Represents Common Stock owned by the reporting person's immediate family members, for which he disclaims beneficial ownership, except to the extent of his pecuniary interest therein.
(3) The options become exercisable in four annual installments on the following dates: 18,750 shares on March 19, 2009; 18,750 shares on March 19, 2010; 18,750 shares on March 19, 2011; and 18,750 shares on March 19, 2012.
(4) The options become exercisable in five annual installments on the following dates: 1,500 shares on March 21, 2008; 1,500 shares on March 21, 2009; 2,000 shares on March 21, 2010; 2,500 shares on March 21, 2011; and 2,500 shares on March 21, 2012.
(5) The options become exercisable in three annual installments on the following dates: 8,333 shares on March 15, 2007; 8,333 shares on March 15, 2008; and 8,334 shares on March 15, 2009.
(6) The options to purchase Common Stock are currently exercisable.

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