"As we have indicated previously, we are keenly focused on initiatives to drive profitable sales growth, including increasing our comparable store sales. Among our other initiatives, the significant expansion of our maternity apparel leased department relationship with Macy's will occur in February 2011, through which we will expand from our current 115 Macy's locations to over 615 Macy's locations throughout the United States, offering a mix of Motherhood Maternity and A Pea in the Pod branded merchandise. This expansion with Macy's will deepen our position as the leading maternity apparel retailer in the world. In addition, we are focused on continuing to enhance our merchandise assortments, merchandise presentation and customer experience."
During December 2010, the Company did not open any stores and closed five stores. As of the end of December 2010, the Company operates 690 stores, 1,192 leased department locations and 1,882 total retail locations, compared to 721 stores, 980 leased department locations and 1,701 total retail locations operated at the end of December 2009. The increase in leased department locations at the end of December 2010 versus the end of December 2009 predominantly reflects the opening of an additional 217 Sears and Kmart leased department locations in September and October 2010.
For the quarter ended December 31, 2010, the Company opened one Destination Maternity nameplate store, closed ten stores, including one store closing related to the Destination Maternity nameplate store opening, and reopened the Destination Maternity nameplate store at the Roseville Galleria Mall in California, which had been closed since late October 2010 due to a fire at the mall.
Destination Maternity Corporation
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