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Destination Maternity net sales slip in Q1

Philadelphia -- Net sales for the first quarter of fiscal 2014 at Destination Maternity Corporation decreased 0.3% to $134.8 million from $135.3 million reported for the first quarter of fiscal 2013. Same-store sales slightly increased 0.7%.

Destination Maternity said the slight decrease in total reported sales for the first quarter of fiscal 2014 compared to the first quarter of fiscal 2013 resulted primarily from decreased sales related to the company's continued efforts to close underperforming stores, substantially offset by the increase in comparable sales. The company expects earnings per share to come in at the low end of previously issued guidance.

“In the first quarter of fiscal 2014, our sales were slightly weaker than planned, reflecting the continued challenging overall economic environment which affected many retailers in the recent holiday shopping season, said Ed Krell, CEO. “In spite of the sluggish sales environment, we were able to achieve our sixth consecutive quarter of comparable sales increases.  

 

© 2014