Destination Maternity Key Nov. Sales Figure Falls
PHILADELPHIA (AP) ¿ Destination Maternity Corp. said unfavorable weather, a difficult comparison and the ongoing struggles of the retail sector during the recession contributed to an 11.6 percent drop in a key sales figure in November.
Still, the maternity apparel retailer said the results were in line with its expectations for a monthly decline between 10 percent and 12.5 percent.
This sales figure is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
Adjusting for one more Monday and one less Saturday compared with the prior-year period, sales at stores open at least a year fell about 8.1 percent in November. This was in range of Destination's forecast for a decline of 6.5 percent to 9 percent on an adjusted basis.Total monthly sales slipped 3.1 percent to $42.7 million. Retailers have come under pressure during the recession as shoppers have pulled back considerably on their spending and continue to seek out discounts and trade down. Destination Maternity currently runs 721 stores, 980 leased department locations and 1,701 total retail locations.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV