Mothers Work raises Q3 earnings outlook as sales rise
15 Jul '06
2 min read
Mothers Work Inc, the world's leading maternity apparel retailer, announced an increase to its earnings guidance range for the third quarter ended June 30th 2006.
Based on updated information from the preliminary closing of its financial books, the company expects to report diluted earnings per share for the third quarter ended June 30th 2006 of between $1.52 and $1.56 per share (after stock option expense), an increase from the company's previous third quarter guidance for diluted earnings per share of between $1.20 and $1.34 per share (after stock option expense).
As reported in its July 6th 2006 press release, the company's net sales for the third quarter of 2006 of $163.9 million exceeded its previous third quarter sales guidance of $157.5 to $160.5 million, and its comparable store sales increase of 6.4 percent for the quarter exceeded its previous third quarter comparable store sales guidance of an increase of 2.5 to 4.5 percent.
The company will report results for its third quarter and hold an investor conference call on July 25th 2006, at which time it will provide additional information related to its results for the third quarter, future financial guidance and strategic business initiatives.
Mothers Work is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack merchandise analysis and planning system as well as its quick response replenishment process to 'give the customer what she wants, when she wants it.'
As of June 30th 2006, Mothers Work operates 1,540 maternity locations, including 815 stores, predominantly under the tradenames Motherhood Maternity, A Pea in the Pod, Mimi Maternity, and Destination Maternity, and sells on the web through its DestinationMaternity.com and brand-specific websites.