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Maidenform Brands reports Q4 and 2007 results
05 Mar '08
3 min read
3) refinancing our credit facility which reduced annual interest expense; and
4) maximizing cash flow utilization by voluntarily paying down $20.0 million of debt and repurchasing $12.5 million of common stock. Our ongoing commitment to performance drove a 15.7% diluted EPS growth rate over last year, despite a more challenging retail environment overall.
As we enter 2008, we remain cautious about the retail climate but our team continues to focus on driving Maidenform to new levels of success through expanding product categories with existing customers, developing new customers globally and prudently managing expenses while effectively building our foundation for future growth."
Financial Results for Fourth Quarter 2007 versus Fourth Quarter 2006:
Net sales for the fourth quarter of 2007 increased $10.8 million, or 12.7%, to $95.8 million. Wholesale segment net sales in the fourth quarter of 2007 rose $10.4 million, or 14.6%, to $81.5 million with wholesale branded net sales up 21.2%.
Total international net sales, which are included in the wholesale segment, increased $4.5 million, or 69.2%, to $11.0 million. Retail segment net sales increased $0.4 million, or 2.9%, to $14.3 million in the fourth quarter of 2007. Maidenform's net sales performance by channel of distribution and product mix is highlighted in Exhibit 1 of this press release.
Wholesale Segment:
Department Stores and National Chain Stores Net sales for the department stores and national chain stores channel increased $5.0 million, or 11.0%, to $50.6 million in the fourth quarter of 2007.
Growth in this channel was primarily driven by the successful introduction of Maidenform's The Sleek Bra and continued expansion of The Smooth Bra franchise, solid performance in the Company's full-figure Lilyette brand and continued success in Maidenform's new shapewear brand, Control It.
Click here to view more:
4) maximizing cash flow utilization by voluntarily paying down $20.0 million of debt and repurchasing $12.5 million of common stock. Our ongoing commitment to performance drove a 15.7% diluted EPS growth rate over last year, despite a more challenging retail environment overall.
As we enter 2008, we remain cautious about the retail climate but our team continues to focus on driving Maidenform to new levels of success through expanding product categories with existing customers, developing new customers globally and prudently managing expenses while effectively building our foundation for future growth."
Financial Results for Fourth Quarter 2007 versus Fourth Quarter 2006:
Net sales for the fourth quarter of 2007 increased $10.8 million, or 12.7%, to $95.8 million. Wholesale segment net sales in the fourth quarter of 2007 rose $10.4 million, or 14.6%, to $81.5 million with wholesale branded net sales up 21.2%.
Total international net sales, which are included in the wholesale segment, increased $4.5 million, or 69.2%, to $11.0 million. Retail segment net sales increased $0.4 million, or 2.9%, to $14.3 million in the fourth quarter of 2007. Maidenform's net sales performance by channel of distribution and product mix is highlighted in Exhibit 1 of this press release.
Wholesale Segment:
Department Stores and National Chain Stores Net sales for the department stores and national chain stores channel increased $5.0 million, or 11.0%, to $50.6 million in the fourth quarter of 2007.
Growth in this channel was primarily driven by the successful introduction of Maidenform's The Sleek Bra and continued expansion of The Smooth Bra franchise, solid performance in the Company's full-figure Lilyette brand and continued success in Maidenform's new shapewear brand, Control It.
Click here to view more:
Maidenform Brands Inc
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