Home / Knowledge / News / Apparel/Garments / Shapewear & DKNY business do well – Maidenform

Shapewear & DKNY business do well – Maidenform

11
Nov '11
Maidenform Brands Inc, a global branded marketer of intimate apparel, reported third quarter 2011 net sales of $148.2 million, an increase of 1.6% over the third quarter of 2010. EPS was $0.44 for the third quarter of 2011 compared to EPS of $0.55 for the third quarter of 2010.

"While we increased sales and market share in the third quarter, we are disappointed with our earnings performance, which was below our expectations. The quarter was impacted by several factors, including a decline in consumer traffic in our category, that suppressed sales and drove higher costs to promote and liquidate overstocks.

"We expect these conditions to persist in the fourth quarter and we are taking action to mitigate them. To this end, we have instituted several new initiatives to increase sales, expand our gross margins and control our spending, and we look forward to growing Maidenform's profits in 2012 and beyond," stated Maurice S. Reznik, Chief Executive Officer.

Financial Results for Third Quarter 2011 versus Third Quarter 2010
Net sales for the third quarter of 2011 increased $2.4 million, or 1.6%, to $148.2 million. Wholesale segment net sales for the third quarter of 2011 increased $1.6 million, or 1.2%, to $130.2 million. Retail segment net sales increased $0.8 million, or 4.7%, to $18.0 million.

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 decreased $0.5 million, or 0.8%, to $59.9 million for the third quarter of 2011. This decrease was a result of soft intimate apparel retail trends which impacted the Company's bra and pant categories. These declines were partially offset by increases in the shapewear category and DKNY business.

Mass Merchants
Mass merchant channel net sales increased $5.9 million, or 15.1%, to $45.1 million for the third quarter of 2011. This increase was led by expanded assortments and increased replenishment of the Company's shapewear and bra categories.

Other
Net sales in the other channel decreased $3.8 million, or 13.1%, to $25.2 million for the third quarter of 2011 primarily from decreased sales to a specialty retailer.

Total international net sales, which are included in the wholesale segment, increased $0.2 million, or 1.4%, to $14.1 million. International sales benefited from favorable currency exchange rates and increased sales primarily in the United Kingdom which were partially offset by sales declines in Canada and Mexico.

Retail Segment
Total retail segment net sales increased $0.8 million, or 4.7%, to $18.0 million. Same store sales, defined as outlet stores that have been open for more than one year, increased 2.4%. Internet sales increased $0.2 million, or 13.3%, to $1.7 million for the third quarter of 2011. The retail segment operated 75 outlet stores and four kiosks and carts as of the end of the third quarter of 2011 and 73 outlet stores and four kiosks and carts as of the end of the third quarter of 2010.


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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

Leave your Comments


May 2021

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


Advanced Search