Home / Knowledge / News / Apparel/Garments / Shapewear net sales soar at Maidenform
Shapewear net sales soar at Maidenform
12
Aug '10
Maidenform Brands, Inc., a global branded marketer of intimate apparel, reported second quarter 2010 net sales of $149.4 million, an increase of 30.8% over the second quarter of 2009, driven by continued strength in its core shapewear and bra businesses across the Company's wholesale channels. Reported EPS of $0.59 for the second quarter of 2010 was up from EPS of $0.31 in the second quarter of 2009.

"This marks our sixth consecutive quarter of strong net sales growth, and we believe that we are well positioned for 2010 and beyond," stated Maurice S. Reznik, Chief Executive Officer. "While sales across all of the Company's wholesale channels increased in the quarter, we are particularly pleased that sales from some of our newer strategic initiatives like Donna Karan and international are beginning to accelerate and have a greater impact on our overall performance."

Financial Results for Second Quarter 2010 versus Second Quarter 2009

Net sales for the second quarter of 2010 increased $35.2 million, or 30.8%, to $149.4 million. Wholesale segment net sales in the second quarter of 2010 increased $35.2 million, or 35.3%, to $134.9 million. Retail segment net sales were unchanged at $14.5 million in the second quarter of 2010 when compared to the comparable period last year.

The Company's net sales performance by channel of distribution is highlighted in Exhibit 1 to this press release.

Wholesale Segment

Department Stores and National Chain Stores
Net sales for the department stores and national chain stores channel increased $9.8 million, or 17.5%, to $65.9 million in the second quarter of 2010. This increase was due to the solid performance of the Company's shapewear and bra businesses resulting from replenishment orders to support consumer spending and new product introductions along with the continued improvement from the Company's licensed brands Donna Karan and DKNY.

Mass Merchants
Mass merchant channel net sales increased $16.3 million, or 61.3%, to $42.9 million in the second quarter of 2010. This increase included strong sales growth in the Sweet Nothings brand shapewear and bra categories, and continued sales of shapewear products in the Self Expressions brand which were not in the same period of 2009.

Other
Net sales in the other channel increased $9.1 million, or 53.5%, to $26.1 million in the second quarter of 2010 primarily from increased sales to a specialty retailer.

Total international net sales, which are included in the wholesale segment, increased $3.3 million, or 38.8%, to $11.8 million. This increase was driven by increased sales in most of the Company's international markets, notably Mexico, the United Kingdom and Spain.

Retail Segment
Total retail segment net sales were unchanged at $14.5 million in the second quarter of 2010 with same store sales, defined as stores that have been open for more than one year, increasing 0.8% at Maidenform's retail outlet stores. Internet sales were unchanged at $1.2 million in the second quarter of 2010. The retail segment operated 74 outlet stores and 1 shapewear kiosk as of the second quarter of 2010 and 75 outlet stores as of the second quarter of 2009.

Click here for more details

Maidenform Brands Inc


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Abhishek Ganguly
Puma India

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

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search