FINANCE

Destination Maternity net sales slip in Q1

BY Dan Berthiaume

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.

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News

Study: Retailers want omni-channel POS software

BY Dan Berthiaume

Franklin, Tenn. – A majority of retailers want their next POS software to have omni-channel capabilities. According to a new research study from IHLGroup, “Stores Reinvented: 11th Annual Store Systems Study,” 63% of retailers say their next POS software will utilize a single business logic that can be used for POS, mobile POS, m-commerce and e-commerce functions.

The study also shows that 2014 will be a banner year for store systems. Mobile, POS, software, omni-channel, and CRM are all showing up strongly. In addition, the number of retailers using mobile devices for POS is expected to triple in 2014.

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REAL ESTATE

Robert Graham to open store at Mohegan Sun resort

BY Dan Berthiaume

New York – Robert Graham has signed a new lease agreement to open a branded retail store featuring the full Robert Graham collection in The Shops at Mohegan Sun in Uncasville, Conn. The store will carry the complete range of Robert Graham apparel products.

"Mohegan Sun is a leading Connecticut destination offering some of the most unique state-of-the-art facilities and we are very excited about opening one of our newest locations here in 2014," said Michael Buckley, CEO of Robert Graham. "The complex attracts people from all over the globe and we are very excited to showcase the full range of the Robert Graham collection to such a diverse and discerning client."

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