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Mothers Work announces strategic restructuring
02
Jul '08
Mothers Work Inc the world's leading maternity apparel retailer, announced a strategic restructuring and streamlining of its merchandise brands and store nameplates and the implementation of cost reduction initiatives to improve the long-term profitability of its business.

The Company has also announced that it remains comfortable with its previously announced earnings per share guidance range for the third quarter of fiscal 2008 and the full fiscal year 2008 as detailed in its April 23, 2008 press release.

The Company will expand its A Pea in the Pod brand, which is the leading luxury maternity apparel brand in the United States, to include the Company's distinctive and stylish mid-market Mimi Maternity merchandise assortments.

The Mimi Maternity product line will be re-branded under the A Pea in the Pod brand beginning with the Spring 2009 collection, which will debut beginning in November 2008.

Also beginning with the debut of the Spring 2009 collection, the Company's current luxurious A Pea in the Pod brand merchandise assortment will be re-branded as A Pea in the Pod Collection, to emphasize its exclusive designer brand positioning.

The Company will also restructure and streamline its store nameplates beginning in January 2009. The Company plans to rename its single-brand Mimi Maternity stores (consisting of 48 stores as of June 30, 2008) as A Pea in the Pod, in order to align with the re-branding of the Mimi Maternity product line under the A Pea in the Pod brand.

In addition, the Company plans to rename its multi-brand Mimi Maternity stores as Destination Maternity, in order to better communicate to its customers the multi-brand nature of these store formats.

As of June 30, 2008, the Company's multi-brand Mimi Maternity stores consist of 41 two-brand Mimi combo stores, which currently carry merchandise under both the Mimi Maternity and Motherhood Maternity brands, and 3 three- brand Mimi triplex stores, which currently carry merchandise under the Mimi Maternity, Motherhood Maternity and A Pea in the Pod brands.

The Company's Motherhood Maternity merchandise brand and store nameplate, which serves the value-priced portion of the maternity apparel industry with a broad assortment of quality fashion at everyday low prices, will not be affected by this merchandise brand and store nameplate restructuring.

Mothers Work Inc


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