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Mothers Work Comp store sales fall in July

Aug '05
Philadelphia based maternity apparel retailer Mothers Work Inc announced net sales for the month of July 2005 increased 3.2 percent to $43.4 million from $42.1 million reported for the month of July 2004. Comparable store sales for July 2005 decreased 4.3 percent (based on 1,009 locations) versus a comparable store sales decrease of 2.6 percent (based on 882 locations) for July 2004.

During July 2005, the Company opened 2 leased department locations, and closed 1 store and 1 leased department location. The Company ended the month with 856 stores and 1,593 total retail locations, compared to 883 stores and 1,109 total retail locations at the end of July 2004.

The significant increase in the Company's total retail location count compared to a year ago resulted predominantly from the expansion of the Company's proprietary Two Hearts Maternity collection to an additional 497 Sears locations during late March 2005.

Rebecca Matthias, President and Chief Operating Officer of Mothers Work, noted, "Company sales for the month of July improved significantly in the second half of the month compared to the first half of the month, as beneficial impact on sales of the additional markdowns they took in mid-July. For the full month of July, their comparable store sales decrease of 4.3 percent was in line with their prior guidance of a comparable store sales decrease of approximately 4 percent to 5 percent, which they provided in their July 26, 2005 press release.

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