Home / Knowledge / News / Apparel/Garments / Sales slip 4.3% at Destination Maternity in FY'14
Sales slip 4.3% at Destination Maternity in FY'14
Oct '14
NASDAQ-listed and maternity apparel retailer, Destination Maternity Corporation reported a 4.3% year-on-year fall in revenues for the full fiscal year ended September 30, 2014.

Net sales for fiscal year 2014, dropped 4.3% to $517.0 million from $540.3 million, the retailer reported for the full year fiscal 2013.

Destination Maternity attributed the decline in sales to fall in comparable sales and decreased sales related to its continued efforts to close underperforming stores.

Fiscal year 2014 sales were also below the low end of its guidance range of $519.5 to $524.0 million provided in its July 30, 2014 press release.

“This was primarily due to the reported comparable sales decrease of 3.7%, which was below the low end of the guidance range for a comparable sales decrease of between 2.3% and 3.0%,” the retailer explains.

According to the retailer, the weakness stems from continued difficult retail environment which resulted in lower store traffic and weaker consumer acceptance to its merchandise assortments.

Destination Maternity also had to initiate higher than planned price promotional and markdown activity to manage inventory in the fourth fiscal quarter of 2014.

CEO Anthony Romano who joined Destination Maternity two months back also showed his disappointment by saying, “We are obviously very disappointed in our performance during fiscal 2014.”

The maternity apparel retailer now expects diluted earnings per share for the full year to be between $0.81 and $0.86 per share and significantly lower than fiscal 2013 earnings of $1.78 per share.

Earnings are also below the low end of its prior earnings guidance range of $1.11 to $1.21 per share that it announced in July 2014.

Destination Maternity said its fiscal year 2014 earnings per share are expected to include approximately $0.14 per share of other charges or income.

Anthony Romano added, “Over the next few months I will continue learning and working with our management team and our Board of Directors to further craft our go-forward strategy for fiscal 2015 and beyond.”

In fiscal year 2014, the retailer opened 22 stores, including eight Destination Maternity nameplate stores, and closed 50 stores, including seven closings of Destination Maternity nameplate stores.

As of September 30, 2014, it operates 568 stores, 1,326 leased department locations and 1,894 total retail locations. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search