Home / Knowledge / News / Apparel/Garments / Shapewear sales soar at Maidenform
Shapewear sales soar at Maidenform
May '09
Maidenform Brands Inc reported first quarter 2009 net sales of $114.2 million, an increase of 16.4% from the first quarter of 2008, driven by strength in its core businesses and sales of products based on the Company's patent-pending Total Solution technology to a specialty retailer and the launch of its Donna Karan and DKNY licensed brands. Reported earnings per share (EPS) of $0.26 for the first quarter of 2009 were flat with EPS of $0.26 in the first quarter of 2008.

Maurice S. Reznik, Chief Executive Officer, stated, "Our strategy to deliver quality and value to our customers across every channel, category and brand is working. During the quarter, we launched Donna Karan and DKNY licensed brands, expanded our Custom Lift franchise, drove significant market share increases in the mass merchant channel, introduced the marketplace to our Total Solution collection with a specialty retailer, and invested aggressively with our retail partners to increase inventory productivity."

"While the marketplace and economy remain challenging, we believe our relentless focus on customers, innovation, channel diversification and growing our shapewear businesses, combined with our disciplined investment and inventory management practices will enable us to grow overall market share and deliver greater value for our customers, retail partners and our shareholders in the months and quarters ahead."

Financial Results for First Quarter 2009 versus First Quarter 2008
Net sales for the first quarter of 2009 increased $16.1 million, or 16.4%, to $114.2 million. Wholesale segment net sales in the first quarter of 2009 increased $16.7 million, or 19.3%, to $103.3 million. Total international net sales, which are included in the wholesale segment, decreased $1.0 million, or 12.5%, to $7.0 million. Retail segment net sales decreased $0.6 million, or 5.2%, to $10.9 million in the first quarter of 2009.

Wholesale Segment
Department Stores and National Chain Stores

Net sales for the department stores and national chain stores channel decreased $4.3 million, or 8.9%, to $44.1 million in the first quarter of 2009. This decrease reflected the weakness in this channel as a result of the global economic slowdown, along with promotional activities with retail partners to increase inventory productivity and lost sales associated with customer bankruptcies filed in the second half of 2008. During the quarter, the Company launched its licensed brands Donna Karan and DKNY.

Mass Merchants
Mass merchant channel net sales increased $9.0 million, or 29.7%, to $39.3 million in the first quarter of 2009. Key drivers of this increase included the expansion of Maidenform's Sweet Nothings brand in the shapewear and bra categories, the addition of a new program with a warehouse customer and ongoing replenishment of the Company's Inspirations brand which launched in the second quarter of 2008.

Net sales in the other channel increased $12.0 million, or 151.9%, to $19.9 million in the first quarter of 2009 primarily from the introduction of products based on the Company's patent-pending Total Solution technology with a specialty retailer and higher sales to off-price retailers.

Retail Segment
Total retail segment net sales decreased $0.6 million in the first quarter of 2009 with same store sales down 8.4% at Maidenform's retail outlet stores, resulting largely from reduced customer traffic and weakness in the overall economy. Internet sales were up $0.1 million, or 8.3%, to $1.3 million. Maidenform had 77 retail outlet stores as of the end of the first quarter of 2009 compared to 78 retail outlet stores in the same period of 2008.

As a percentage of net sales, consolidated gross margins decreased 670 basis points to 32.0%. The majority of this decrease was a result of increased promotional activity to drive inventory productivity, and the mix of customers and products, including a higher percentage of net sales from the Company's lower margin other and mass merchant channels and lower net sales from its retail segment.

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

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

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

October 2016

October 2016

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


Browse Our Archives


Advanced Search