Home / Knowledge / News / Apparel/Garments / Q2FY17 GAAP net loss falls 6.5% at Destination Maternity
Q2FY17 GAAP net loss falls 6.5% at Destination Maternity
29
Aug '16
GAAP net loss for the three months ended July 30, 2016 at Destination Maternity fell 6.5 per cent year on year to $2.5 million, or $0.18 loss per diluted share. Adjusted net loss was $2.0 million or $0.14 per diluted share for the reporting quarter as against $1.7 million, or $0.12 loss per diluted share for the prior fiscal's same quarter.

Net sales for the second quarter of fiscal 2017 too were down to $106.5 million compared with $119.3 million for the corresponding quarter of earlier fiscal.

“The decline was mainly driven by closure of Sears and Gordmans leased department locations, as well as reductions in Kohl's sales given the planned exit in 2017, and by a decline in comparable sales,” the company said.

Comparable sales dropped 2.7 per cent for the quarter under review, compared to a 2.0 per cent increase in the second quarter of fiscal 2016.

Gross margin for the reporting quarter stood at 51.5 per cent, up a steep 510 basis points over 46.4 per cent the retailer posted in the previous fiscal's second quarter. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Pic: UNCTAD

Textiles | On 26th Feb 2020

Barbados unveils one-stop investment guide

As Barbados prepares to host the 15th quadrennial conference of the...

Interviews View All

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search