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Mothers Work reports strong Q3 earnings, ups FY earnings guidance
25 Jul '06
4 min read
During the nine months ended June 30, 2006, it opened 12 stores, including three multi-brand stores, and closed 49 stores, with 13 of these store closings related to multi-brand store openings.
Rebecca Matthias, President and COO of Mothers Work Inc, noted, "We are extremely pleased with our strong sales, earnings and cash flow performance for the third quarter of fiscal 2006, strengthening our conviction that we will deliver significantly improved financial results in fiscal 2006, as evidenced by the increase in our earnings guidance for the year.
"For the fourth quarter of fiscal 2006, we are targeting net sales in the $138.8 to $142.6 million range, based on an assumed comparable store sales increase of 2.0% to 5.0% for the quarter, and are targeting earnings per common share (diluted) of between a loss of $(0.10) and $(0.34) per share after stock option expense. We are targeting earnings per common share (diluted) of between a loss of $(0.03) and $(0.28) per share before projected stock option expense of $0.06 to $0.07 per share for the fourth quarter.
"We are targeting net sales for fiscal 2006 in the $599 to $603 million range, representing sales growth of approximately 7% over fiscal 2005, based on the planned sales contribution from the full-year impact of our Sears and Kohl's initiatives, an assumed comparable store sales increase of between 3.3% and 4.0% for the full fiscal year, and planned increases in internet sales and marketing partnership revenue."
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."
Rebecca Matthias, President and COO of Mothers Work Inc, noted, "We are extremely pleased with our strong sales, earnings and cash flow performance for the third quarter of fiscal 2006, strengthening our conviction that we will deliver significantly improved financial results in fiscal 2006, as evidenced by the increase in our earnings guidance for the year.
"For the fourth quarter of fiscal 2006, we are targeting net sales in the $138.8 to $142.6 million range, based on an assumed comparable store sales increase of 2.0% to 5.0% for the quarter, and are targeting earnings per common share (diluted) of between a loss of $(0.10) and $(0.34) per share after stock option expense. We are targeting earnings per common share (diluted) of between a loss of $(0.03) and $(0.28) per share before projected stock option expense of $0.06 to $0.07 per share for the fourth quarter.
"We are targeting net sales for fiscal 2006 in the $599 to $603 million range, representing sales growth of approximately 7% over fiscal 2005, based on the planned sales contribution from the full-year impact of our Sears and Kohl's initiatives, an assumed comparable store sales increase of between 3.3% and 4.0% for the full fiscal year, and planned increases in internet sales and marketing partnership revenue."
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."
Mothers Work Inc
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