Home / Knowledge / News / Apparel/Garments / Destination Maternity Q3 FY17 e-commerce sales rise 54.3%
Destination Maternity Q3 FY17 e-commerce sales rise 54.3%
Dec '17
Courtesy: Destination Maternity
Courtesy: Destination Maternity
For the third quarter of fiscal 2017 ending October 28, 2017, the e-commerce sales of Destination Maternity, the world's leading maternity apparel retailer, has increased 54.3 per cent from prior year third quarter. The company's net sales for third quarter of 2017 was recorded at $96.4 million compared with $102.6 million for the prior year quarter.

The decrease in the sales was driven by the closure of underperforming stores and exit of the Kohl's relationship, which was included in prior year results, partially offset by an increase in comparable sales. However, the comparable sales increased 1.1 per cent, compared to a 5.2 per cent decline for the third quarter of fiscal 2016.

For the nine months ended October 29, 2016, net sales were $301.1 million compared with $333.5 million. The decrease in sales was primarily driven by a decline in comparable sales, the closure of underperforming stores, and the wind down of the Kohl's, Sears and Gordmans relationships. The comparable sales decreased 3.5 per cent, compared to a decrease of 4.5 per cent for the nine months ended October 29, 2016.

Gross margin for the third quarter of fiscal 2017 was 52.8 per cent, as against the gross margin of 52.9 per cent of comparable prior year quarter. While the gross margin increased to 53.4 per cent compared to 52.9 per cent for the nine months ended October 29, 2016. The year-over-year increase in gross margin is driven by reduced product costs and the exit from the leased department and licensed relationships, which generated lower than average gross margins.

"Although we are not fully satisfied with our financial results, the third quarter was a productive period for our company.  After my initial few months of observations, I feel confident that we have many opportunities to improve our operations and performance, with the benefit of a strong and talented team and a solid infrastructure on which to grow. We also have a strong foundation to build on in our e-commerce business, with e-commerce sales rising over 54 per cent in the quarter and nearly 34 per cent year to date, and with increased momentum in the fourth quarter to date bolstered by record online sales," Allen Weinstein, interim chief executive officer said.

"As a board, we are encouraged by the progress Weinstein and the team has made in the past several months, in particular the great progress on e-commerce. In addition to supporting management over the last few months, the Board has been working diligently on key governance matters.  First, as to our ongoing search for a new chief executive officer, we are working hard to find the right leader who will build on our current momentum and we expect to continue the search process into the new year. Second, as discussed previously, our board has been actively evaluating its composition and size. After significant study and engagement with stockholders, the board has decided to add multiple additional board members, with a focus on adding diverse individuals who possess additional skills and experience that will help further our turnaround and growth. Our board is in the process of vetting many qualified individuals and we expect to announce new appointments shortly," Barry Erdos, chairman of the board.

"We also remain on track to achieve the approximately $10 million in annualised cost savings commencing in fiscal 2018 as we announced earlier in the quarter.  In short, although we have much to do, we are moving in the right direction," Weinstein concluded. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 26th Jan 2022

Vietnam-US trade hits $111.56 bn in 2021

Vietnam-US trade hit $111.56 billion in 2021, up by nearly $21...

Pic: Shutterstock

Textiles | On 26th Jan 2022

Turkey using less coal, hydropower; use of renewables, gas up: Ember

The use of coal and water for energy in Turkey reduced in 2021, while ...

Pic: Bangladesh Parliament Secretariat/Facebook

Apparel/Garments | On 26th Jan 2022

Trade Organisation Bill, 2022, introduced in Bangladesh parliament

The Trade Organisation Bill, 2022, aimed at allowing foreign traders...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Mohammad Ali Khokon,

Mohammad Ali Khokon

<div>The Bangladesh Textile Mills Association (BTMA) is the national trade ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Asif Rahman, MIP

Asif Rahman

MIP is a manufacturer and distributor of high-performance textiles and...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Ritu Kumar, Label - Ritu Kumar

Ritu Kumar
Label - Ritu Kumar

<b>Ritu Kumar</b> is the most respected designerwear brand in India...

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


Leave your Comments


Gap International Sourcing Limited
T.T. Limited
Tory Burch Hong Kong Ltd
Hela Clothing Pvt Ltd
Vianney Textil Hogar S.A. De C.V.
Reiter India Private Limited
Green Fibre
Gatsby Africa
C;&A Sourcing International Ltd
Lenzing Aktiengesellschaft
Lululemon Athletica Inc
Bluestem Global Sourcing Limited
Sportswear Company Spa
Arvind Limited
Amazon China
Sateri (Jiujiang) Fiber Co.,Ltd
KAS Direct Sourcing
Groz-Beckert East Asia LLP
G-Star Raw C.V.
Maceton Limited
NITI Aayog
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Huntsman (Singapore) Pte Ltd
Cat Tuong Real Estate Group Joint Stock Company
Eastman Chemical Company
Sportmaster Ltd.
Lacoste (Wanchai)
Esprit Europe Services GmbH
Tchibo GmbH
Tommy Hilfiger
Grasim Industries Limited
Calvin Klein
Rayonese Textile Inc., Division de Culp Inc.
IKEA of Sweden AB
J ;& P Coats
Guess Europe Sagl,
Target Corporation (MN)
Rosset ;& Cia Limited
Hirdaramani International Export Private Limited
Restoque S.A.
Aquarelle Clothing Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Boardriders Asia Sourcing Limited
Alix Partners
Recron Polyester from Reliance Industries Limited
Lisa S.P.A.
The LYCRA Company Singapore  Pte. Ltd
PVH Corporation
Benetton Group
MAS Active / MAS Kreeda / MAS Bodyline
Alison Hayes Romania
Seasalt Limited
IDH – The Sustainable Trade Initiative
The Top Form Brassiere Manufacturing Company Limited
Truetzschler India Private Limited
LC Waikiki
SHAHI Exports Pvt Ltd
Helly Hansen Far East Ltd
Vardhman Textile Ltd
Desigual - ABASIC, S.A.
Chico’ FAS
Under Armour Global Sourcing Ltd
OVS Hong Kong Sourcing Ltd.
Brandix Lanka Limited
Gokaldas Exports Limited
Chori Company Limited
Landmark Group
Etam Group Strategy Hong Kong Limited
John Varvatos
Sainsbury's Argos Asia Limited
Midas Clothing Limited
Page Industries Limited (Bangalore)
International Textile Manufacturers Federation
Phong Phu international JSC (PPJ)

January 2022

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

Advanced Search