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Mothers Work sees a strong improvement in April sales
09 May '08
3 min read
Mothers Work Inc the world's leading maternity apparel retailer announced that net sales for the month of April 2008 decreased 0.3% to $52.2 million from $52.3 million reported for the month of April 2007.
The slight decrease in sales versus last year resulted primarily from a decrease in Sears leased department sales and reduced sales volume from the ongoing closure of certain underperforming stores, substantially offset by an increase in comparable store sales.
Comparable store sales for April 2008 increased 2.3% (based on 995 locations) versus a comparable store sales decrease of 14.8% (based on 1,412 locations) for April 2007.
The comparable store sales increase of 2.3% for April 2008 was towards the high end of the Company's guidance range for April comparable store sales of down 1% to up 3%, which the Company provided in its April 23, 2008 press release.
As previously announced, since the Company's leased departments within Sears stores will close before the end of the third quarter, the Company's Sears leased departments are not being included in the Company's comparable store sales results beginning in April, the first month of the Company's third quarter.
As of April 30, 2008, the Company operates 477 Sears leased departments, which will all close before the end of June 2008. As of April 30, 2007, the Company operated 524 Sears leased departments.
The comparable store sales increase of 2.3% for April 2008 was unfavorably impacted by approximately 2 to 3 percentage points due to the earlier timing of Easter compared to last year (March 23, 2008 compared to April 8, 2007) and due to having four Sundays in April 2008 compared to five Sundays in April 2007.
The slight decrease in sales versus last year resulted primarily from a decrease in Sears leased department sales and reduced sales volume from the ongoing closure of certain underperforming stores, substantially offset by an increase in comparable store sales.
Comparable store sales for April 2008 increased 2.3% (based on 995 locations) versus a comparable store sales decrease of 14.8% (based on 1,412 locations) for April 2007.
The comparable store sales increase of 2.3% for April 2008 was towards the high end of the Company's guidance range for April comparable store sales of down 1% to up 3%, which the Company provided in its April 23, 2008 press release.
As previously announced, since the Company's leased departments within Sears stores will close before the end of the third quarter, the Company's Sears leased departments are not being included in the Company's comparable store sales results beginning in April, the first month of the Company's third quarter.
As of April 30, 2008, the Company operates 477 Sears leased departments, which will all close before the end of June 2008. As of April 30, 2007, the Company operated 524 Sears leased departments.
The comparable store sales increase of 2.3% for April 2008 was unfavorably impacted by approximately 2 to 3 percentage points due to the earlier timing of Easter compared to last year (March 23, 2008 compared to April 8, 2007) and due to having four Sundays in April 2008 compared to five Sundays in April 2007.
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