"We recognize the continued difficult overall economic environment for the consumer, especially the moderate-priced consumer, although we remain focused on the things that we can control, not on external factors that we cannot control. Our key focus continues to be improving our sales performance through initiatives to enhance our merchandise assortments, merchandise presentation and customer experience."
"Over the past several months, we have made many changes to drive improvements in our merchandise assortments and the way these assortments are presented in store, and we believe that we will begin to see some of the benefit of these initiatives beginning with our Spring 2012 product lines. We have added new talent to our team to help drive this improvement in sales performance, including Chris Daniel having joined us as President on June 1, as well as hiring a new head merchant for our Motherhood Maternity brand and a new Vice President of Marketing in the past three months."
"During the first quarter of fiscal 2012 we made $5.0 million in optional prepayments on our Term Loan and continued our regular quarterly cash dividend, after having initiated this regular quarterly cash dividend in the second quarter of fiscal 2011. Our debt prepayment and regular quarterly dividend payments demonstrate our confidence in the Company's financial strength, cash flow generation, and prospects for the future, and highlight our commitment to continue to drive shareholder value."
"Looking forward, we are confident that we can improve our sales performance and position our Company for continued future growth, by enhancing our merchandise assortments, merchandise presentation and customer experience, and continuing to focus on our strategic plan as summarized in our five key goals and strategic objectives discussed later under "Company Strategy."
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Destination Maternity Corporation
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