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Control It, shapewear brand performs well at Maidenform

07
May '08
Maidenform Brands Inc, a global branded marketer of intimate apparel, announced financial results for the first quarter ended March 29, 2008.

As stated in Maidenform's fourth quarter and full year 2007 press release on March 5, 2008, the Company projected lower net sales results for the first quarter of 2008 compared to the prior year from a non-recurring private brand program with a specialty retailer and a more challenging retail environment overall.

First quarter 2008 highlights versus first quarter 2007:
• Mass merchant channel net sales increased 5.9% to $30.3 million.
• Retail segment net sales increased 12.7% to $11.5 million. Same store sales increased 9.4%.
• International sales increased 11.1% to $8.0 million.
• Consolidated gross margins increased 240 basis points to 38.7%.

Thomas J. Ward, Chief Executive Officer, stated, "While we experienced a more challenging first quarter with consolidated net sales down 8.5%, our team remains focused on driving performance and positioning the Company for long-term success.

In the first quarter of 2008, we continued to build a platform for growth through solid performance in our mass channel business from expanding assortments and doors with certain customers, intensifying our footprint internationally particularly in Germany, enhancing store productivity in our retail outlet stores and implementing cost-saving sourcing initiatives that resulted in continued consolidated gross margin expansion.


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