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Mothers Work comparable store sales rise 3.9% in July

04
Aug '06
Mothers Work Inc, the world's leading maternity apparel retailer, today announced that net sales for the month of July 2006 increased 8.1% to $47.0 million from $43.4 million reported for the month of July 2005.

The increase in net sales for July 2006 was primarily driven by increased sales from the company's Oh Baby! by Motherhood licensed arrangement with Kohl's, as well as increased comparable store sales.

Comparable store sales for July 2006 increased 3.9% (based on 1,470 locations) versus a comparable store sales decrease of 4.3% (based on 1,009 locations) for July 2005. The 3.9% comparable store sales increase for the month of July 2006 would have been between one and two percentage points higher if there had not been one less Friday and one more Monday in July 2006 compared to July 2005.

During July 2006, the company did not open any stores and closed 2 stores. In addition, during July 2006, the company opened one leased department location and closed 12 leased department locations, with the closings consisting almost entirely of Sears-leased department location closings.

Rebecca Matthias, President and COO of Mothers Work, noted, "We are very pleased to report another month of strong sales performance, as we delivered a comparable store sales increase of 3.9%, which would have been between one and two percentage points higher if there had not been only four Fridays in July 2006 compared to five Fridays in July 2005. Our reportedcomparable store sales increase of 3.9% for July exceeded our plan going into the month, and was in line with our revised guidance of a 3.5% to 4.5% July comparable store sales increase that we provided in our July 25, 2006 press release.”


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