Net sales fall at maternity apparel retailer

23 Apr '08

3 min read

Net sales for the second quarter of fiscal 2008 decreased 3.4% to $139.0 million from $143.9 million for the second quarter of fiscal 2007. The decrease in sales versus last year resulted primarily from a decrease in comparable store sales and, to a lesser extent, reduced sales volume from the ongoing closure of certain underperforming stores and decreased sales from the Company's leased department and licensed relationships.

Comparable store sales decreased 1.7% during the second quarter of fiscal 2008 (based on 1,394 locations) versus a comparable store sales decrease of 1.6% during the second quarter of fiscal 2007 (based on 1,412 locations).

The comparable store sales decrease of 1.7% for the second quarter of fiscal 2008 was favorably impacted by approximately 1 to 2 percentage points due to having an extra day in February 2008 compared to February 2007 and, to a lesser extent, the earlier timing of Easter (March 23, 2008 compared to April 8, 2007).

The comparable store sales decrease of 1.6% for the second quarter of fiscal 2007 was favorably impacted by approximately 1 percentage point due to having one more Saturday in the second quarter of fiscal 2007 compared to the second quarter of fiscal 2006. For the quarter ended March 31, 2008, the Company opened 10 stores and closed 16 stores, including one store closing related to a multi- brand store opening.

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