Home / Knowledge / News / Apparel/Garments / Destination Maternity sales rise 3% in Q2 FY'12
Destination Maternity sales rise 3% in Q2 FY'12
06
Apr '12
Destination Maternity Corporation, the world's leading maternity apparel retailer, reported sales and provided updated earnings guidance for the second quarter of fiscal 2012 ended March 31, 2012.

Net sales for the second quarter of fiscal 2012 increased 3.0% to $137.8 million from $133.8 million reported for the second quarter of fiscal 2011. Comparable sales (which include Internet sales) increased 3.2% versus a comparable sales increase of 0.3% for the second quarter of fiscal 2011.

The increase in total reported sales for the second quarter of fiscal 2012 compared to the second quarter of fiscal 2011 resulted primarily from the increase in comparable sales and increased sales due to the expansion of the Company's maternity apparel leased department relationship with Macy's, partially offset by decreased sales related to the Company's continued efforts to close underperforming stores, and, to a much lesser extent, a decrease in sales due to the closure of all of the Company's remaining leased departments within Kmart stores during the month of October 2011.

Net sales for the first six months of fiscal 2012 increased 1.8% to $274.2 million from $269.3 million reported for the first six months of fiscal 2011. Comparable sales decreased 0.6% versus a comparable sales increase of 1.5% for the first six months of fiscal 2011.

The increase in total reported sales for the first six months of fiscal 2012 compared to the first six months of fiscal 2011 resulted primarily from increased sales due to the expansion of the Company's maternity apparel leased department relationship with Macy's, partially offset by decreased sales related to the Company's continued efforts to close underperforming stores, and, to a much lesser extent, a decrease in sales due to the closure of all of the Company's remaining leased departments within Kmart stores during the month of October 2011 and the decrease in comparable sales.

Ed Krell, Chief Executive Officer of Destination Maternity, noted, "We are pleased to report that our sales for the second quarter of fiscal 2012 were stronger than planned, reflecting strong sales results for our Spring and Summer 2012 product lines and the positive sales impact of price promotional activity and additional markdowns taken on Fall and Winter product, primarily in the first two months of the quarter, to spur sales and manage inventory.

Thus, for the quarter, our sales were slightly above the top end of our sales guidance range. With these sales results and our continued tight management of expenses, we expect our earnings for the second quarter to be higher than the top end of our prior earnings guidance range. Our prior earnings guidance range for second quarter GAAP diluted earnings per share, as provided in our January 26, 2012 press release, was $0.21 to $0.31 per share.”

"Our total sales of $137.8 million for the second quarter was slightly above the top end of our sales guidance range of $133 to $137 million provided in our January 26 press release, and our comparable sales increase of 3.2% was slightly above our guidance range of between a decrease of 1% to an increase of 3% for the quarter. It is important to note that our reported comparable sales results for the second quarter of fiscal 2012 benefited by approximately 2.5 percentage points due to:


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Urmil Arya

Sushila International, a well established textile organisation established ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search