Home / Knowledge / News / Apparel/Garments / Sales down 3.7% at Maidenform in Q1
Sales down 3.7% at Maidenform in Q1
14
May '12
Maidenform Brands Inc. a global branded marketer of intimate apparel, reported first quarter 2012 net sales of $157.5 million, a decrease of 3.7% below the first quarter of 2011. Reported EPS was $0.25 for the first quarter of 2012 compared to EPS of $0.62 for the first quarter of 2011.

"We modestly beat our sales and earnings expectations for the quarter and our outlook for the year remains on track," stated Maurice S. Reznik, Chief Executive Officer. "Despite a choppy retail environment for women's intimate apparel, we grew domestic share across channels and categories in the first quarter, which reflects the power of our brands and the relevance of our products."

Financial Results for First Quarter 2012 versus First Quarter 2011
Net sales for the first quarter of 2012 decreased $6.1 million, or 3.7%, to $157.5 million. Wholesale segment net sales for the first quarter of 2012 decreased $7.2 million, or 4.7%, to $144.8 million. Retail segment net sales increased $1.1 million, or 9.5%, to $12.7 million.

Wholesale Segment
Department Stores and National Chain Stores

Net sales for the department stores and national chain stores channel decreased $5.1 million, or 8.0%, to $58.6 million for the first quarter of 2012. This decrease was primarily due to sales declines at a mid-tier department store as it transitions to a new pricing and merchandising strategy and an assortment expansion in 2011 at one of the Company's chain store customers that did not repeat in 2012.

Mass Merchants
Mass merchant channel net sales increased $1.0 million, or 1.7%, to $59.0 million for the first quarter of 2012. This increase is a result of increased sales, particularly in the shapewear and bra categories, at a warehouse club, which were partially offset by lower sales with a mass customer. The first quarter of 2011 included a sales increase of 32%, reflecting expanded product distribution at several mass channel customers.

Other
Net sales in the other channel decreased $3.1 million, or 10.2%, to $27.2 million for the first quarter of 2012 primarily from lower sales to a specialty retailer and off-price retailers.

Total international net sales, which are included in the wholesale segment, increases $3.2 million, or 24.1%, to $16.5 million. This increase was driven by increases primarily in Canada and the United Kingdom.

Retail Segment
Total retail segment net sales increased $1.1 million, or 9.5%, to $12.7 million resulting from increased customer traffic and e-commerce growth. Same store sales, defined as outlet stores that have been open for more than one year, increased 5.3%. Internet sales increased $0.8 million, or 53.3%, to $2.3 million for the first quarter of 2012. The retail segment operated 75 outlet stores as of the end of the first quarter of 2012 and 74 outlet stores as of the end of the first quarter of 2011.


Must ReadView All

Courtesy: ABARES

Textiles | On 13th Dec 2017

Australian cotton production to grow 4% in 2017-18: ABARES

Cotton production in Australia is forecast to rise by 4 per cent to...

Global economy now growing by about 3%: UN

Textiles | On 13th Dec 2017

Global economy now growing by about 3%: UN

There is an upturn in the global economy, and it is now growing by...

Winners of Outstanding Award for Exceptional Performance with Anusha Alles (extreme right) and Sakura Manthreerathne, P.A.C.E. specialist at Brandix; Courtesy: Brandix

Apparel/Garments | On 13th Dec 2017

Brandix’s female workers benefit from GAP’s P.A.C.E

A group of 181 Brandix female associates have recently completed...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

December 2017

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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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