Marginal rise in Q2FY'12 sales at Destination Maternity
19 Apr '12
2 min read
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
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