Destination Maternity Reports Sales for May 2010

June 4, 2010 at 9:02 am Leave a comment

Destination Maternity Corporation, the world’s leading maternity apparel retailer, reported that net sales for the month of May 2010 increased 1.6% to $52.2 million from $51.3 million reported for the month of May 2009. Comparable store sales for the month of May 2010 decreased 3.9% on a reported basis and decreased approximately 2.9% after adjusting for the “days adjustment calendar shift,” which the Company estimates unfavorably impacted its reported comparable store sales by approximately 1 percentage point. For May 2009 the Company’s comparable store sales decreased 5.4% on a reported basis, and decreased approximately 5.7% after adjusting for the calendar timing shift. The increase in total reported sales for May 2010 compared to May 2009 resulted primarily from increased sales from the Company’s leased and licensed relationships, including sales due to the re-launch of the exclusive Two Hearts(R) Maternity collection in Sears(R) and Kmart(R) stores in October 2009, and to a lesser extent, increased Internet and international sales, partially offset by the decrease in comparable store sales.

Ed Krell, Chief Executive Officer of Destination Maternity, noted, “Our May comparable store sales results were within, although towards the lower end of, our expectation range consistent with our guidance for third quarter comparable store sales. Although our comparable store sales were down modestly for the month, we are encouraged by the significant improvement in our sales trend in May compared to April, as well as our improved sales trend in the second half of May compared to the first half. Also, it is important to note that our inventory remains in good control and our merchandise gross margin this May was higher than last May.

Source Link : Fibashion.com

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Entry filed under: Apparel & Garment. Tags: , , , .

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