Interviews
News Flash
Maidenform experiences solid performance from Control It & Flexees
06 Aug '08
5 min read
Wholesale Segment:
Department Stores and National Chain Stores:
Net sales for the department stores and national chain stores channel decreased $10.8 million, or 15.8%, to $57.4 million in the second quarter of 2008. The Company had previously projected lower net sales in this channel reflecting the timing of certain shipments which were shipped early in the third quarter of 2008, as well as a more challenging retail environment.
Despite a decrease in this channel overall, Maidenform experienced solid performance from the expanded distribution of the Company's shapewear brand Control It and strength in Flexees Shapewear Chic collections.
Additionally, at the end of the second quarter, the Company implemented key brand and product sales building initiatives in the department stores and national chain stores channel, including the launch of the Luleh brand, further expansion of Flexees Weightless Power collection and Lilyette Every Bit Invisible full-figure bras.
Mass Merchants:
The mass merchant channel net sales increased $3.0 million, or 11.8%, to $28.5 million in the second quarter of 2008. Primary factors for this increase were the launch of the Company's Inspirations brand, continued penetration of Maidenform's Sweet Nothings brand in the shapewear category, and the addition of a new program with a warehouse customer.
Other:
Net sales in the other channel were down $3.8 million, or 33.0%, to $7.7 million in the second quarter of 2008, largely due to sales to an off-price retailer in 2007 that did not repeat in 2008 and lower liquidation sales.
Retail Segment:
As noted above, total retail segment net sales increased $0.7 million, or 5.1%, to $14.5 million in the second quarter of 2008 with same store sales up 1.9% at Maidenform's retail outlet stores and internet sales up 20.0% to $1.2 million. Strong product performers in the retail segment included Maidenform and Lilyette bras and Flexees and Control It shapewear. The Company had 77 retail outlet stores as of the end of the second quarter of 2008, the same as of the end of the second quarter of 2007.
As a percentage of net sales, consolidated gross margins decreased 120 basis points to 38.7%, primarily driven by both customer and product mix, which included fewer sales in the department stores and national chain stores channel combined with higher sales in the mass merchant channel. Partially offsetting this change in channel mix was higher retail segment sales and cost improvements from the Company's sourcing initiatives.
Click here to view more:
Department Stores and National Chain Stores:
Net sales for the department stores and national chain stores channel decreased $10.8 million, or 15.8%, to $57.4 million in the second quarter of 2008. The Company had previously projected lower net sales in this channel reflecting the timing of certain shipments which were shipped early in the third quarter of 2008, as well as a more challenging retail environment.
Despite a decrease in this channel overall, Maidenform experienced solid performance from the expanded distribution of the Company's shapewear brand Control It and strength in Flexees Shapewear Chic collections.
Additionally, at the end of the second quarter, the Company implemented key brand and product sales building initiatives in the department stores and national chain stores channel, including the launch of the Luleh brand, further expansion of Flexees Weightless Power collection and Lilyette Every Bit Invisible full-figure bras.
Mass Merchants:
The mass merchant channel net sales increased $3.0 million, or 11.8%, to $28.5 million in the second quarter of 2008. Primary factors for this increase were the launch of the Company's Inspirations brand, continued penetration of Maidenform's Sweet Nothings brand in the shapewear category, and the addition of a new program with a warehouse customer.
Other:
Net sales in the other channel were down $3.8 million, or 33.0%, to $7.7 million in the second quarter of 2008, largely due to sales to an off-price retailer in 2007 that did not repeat in 2008 and lower liquidation sales.
Retail Segment:
As noted above, total retail segment net sales increased $0.7 million, or 5.1%, to $14.5 million in the second quarter of 2008 with same store sales up 1.9% at Maidenform's retail outlet stores and internet sales up 20.0% to $1.2 million. Strong product performers in the retail segment included Maidenform and Lilyette bras and Flexees and Control It shapewear. The Company had 77 retail outlet stores as of the end of the second quarter of 2008, the same as of the end of the second quarter of 2007.
As a percentage of net sales, consolidated gross margins decreased 120 basis points to 38.7%, primarily driven by both customer and product mix, which included fewer sales in the department stores and national chain stores channel combined with higher sales in the mass merchant channel. Partially offsetting this change in channel mix was higher retail segment sales and cost improvements from the Company's sourcing initiatives.
Click here to view more:
Maidenform Brands Inc
Popular News
Leave your Comments
Editor’s Pick
Therese Premler-Andersson
Textile Machinery Association of Sweden (TMAS)
Jason Kent
British Textile Machinery Association (BTMA)
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
