Home / Knowledge / News / Apparel/Garments / Sales dip marginally at Destination Maternity in Q4 FY'12
Sales dip marginally at Destination Maternity in Q4 FY'12
09
Oct '12
Destination Maternity Corporation, the world's leading maternity apparel retailer, reported sales for the fourth quarter of fiscal 2012 ended September 30, 2012, and announced that it expects its fourth quarter fiscal 2012 earnings to exceed the top end of its prior earnings guidance range and to significantly exceed last year's fourth quarter earnings.

Net sales for the fourth quarter of fiscal 2012 decreased 0.7% to $128.5 million from $129.4 million reported for the fourth quarter of fiscal 2011.  Comparable sales (which include Internet sales) increased 2.7% versus a comparable sales decrease of 1.7% for the fourth quarter of fiscal 2011. 

The decrease in total reported sales for the fourth quarter of fiscal 2012 compared to the fourth quarter of fiscal 2011 resulted primarily from decreased sales related to the Company's continued efforts to close underperforming stores and decreased sales from the Company's licensed relationship, largely offset by the increase in comparable sales.

Net sales for the fiscal year ended September 30, 2012 decreased 0.7% to $541.5 million from $545.4 million reported for the full year fiscal 2011.  Comparable sales decreased 0.3% versus a comparable sales increase of 0.1% for the full year fiscal 2011.

Ed Krell, Chief Executive Officer of Destination Maternity, noted, "We are very pleased with the improvement of our sales performance for the fourth quarter of fiscal 2012, which was driven by strong sales of our Fall 2012 merchandise assortments.  As a result of our strong sales performance, our somewhat stronger than planned gross margin, and our continued tight management of expenses, we expect our GAAP diluted earnings per share for the fourth quarter to exceed the top end of our prior earnings guidance range of $0.17 to $0.28 per share that we provided in our July 26, 2012 press release, and to be significantly higher than last year's fourth quarter GAAP diluted earnings of $0.20 per share.

"Our total sales of $128.5 million for the fourth quarter were toward the high end of our sales guidance range of $125.5 to $130.0 million provided in our July 26 press release, due to our comparable sales increase of 2.7%, which was near the high end of our guidance range for comparable sales of between a decrease of 1% and an increase of 3% for the quarter. 

"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 are pleased with the improved sales trend we have seen thus far in the Fall product selling season."

For the quarter ended September 30, 2012, the Company opened four new stores, including three multi-brand Destination Maternity stores, and closed 15 stores, including five store closings related to Destination Maternity store openings.


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

PVH, WWF tie up to protect water bodies in Ethiopia, India

Apparel/Garments | On 23rd Apr 2018

PVH, WWF tie up to protect water bodies in Ethiopia, India

PVH Corp , parent company of brands like Tommy Hilfiger, Calvin...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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