This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Destination Maternity Reports Sales And Provides Updated Earnings Guidance For Fourth Quarter Of Fiscal 2012

PHILADELPHIA, Oct. 9, 2012 /PRNewswire/ -- Destination Maternity Corporation (Nasdaq: DEST), the world's leading maternity apparel retailer, today reported sales for the fourth quarter of fiscal 2012 ended September 30, 2012, and announced that it expects its fourth quarter fiscal 2012 earnings to exceed the top end of its prior earnings guidance range and to significantly exceed last year's fourth quarter earnings.

Net sales for the fourth quarter of fiscal 2012 decreased 0.7% to $128.5 million from $129.4 million reported for the fourth quarter of fiscal 2011.  Comparable sales (which include Internet sales) increased 2.7% versus a comparable sales decrease of 1.7% for the fourth quarter of fiscal 2011.  The decrease in total reported sales for the fourth quarter of fiscal 2012 compared to the fourth quarter of fiscal 2011 resulted primarily from decreased sales related to the Company's continued efforts to close underperforming stores and decreased sales from the Company's licensed relationship, largely offset by the increase in comparable sales.

Net sales for the fiscal year ended September 30, 2012 decreased 0.7% to $541.5 million from $545.4 million reported for the full year fiscal 2011.  Comparable sales decreased 0.3% versus a comparable sales increase of 0.1% for the full year fiscal 2011.

Ed Krell, Chief Executive Officer of Destination Maternity, noted, "We are very pleased with the improvement of our sales performance for the fourth quarter of fiscal 2012, which was driven by strong sales of our Fall 2012 merchandise assortments.  As a result of our strong sales performance, our somewhat stronger than planned gross margin, and our continued tight management of expenses, we expect our GAAP diluted earnings per share for the fourth quarter to exceed the top end of our prior earnings guidance range of $0.17 to $0.28 per share that we provided in our July 26, 2012 press release, and to be significantly higher than last year's fourth quarter GAAP diluted earnings of $0.20 per share.

"Our total sales of $128.5 million for the fourth quarter were toward the high end of our sales guidance range of $125.5 to $130.0 million provided in our July 26 press release, due to our comparable sales increase of 2.7%, which was near the high end of our guidance range for comparable sales of between a decrease of 1% and an increase of 3% for the quarter.  

"Our key focus continues to be improving our sales performance through initiatives to enhance our merchandise assortments, merchandise presentation and customer experience.  Over the past several months, we have made many changes to drive improvements in our merchandise assortments and the way these assortments are presented in store, and we are pleased with the improved sales trend we have seen thus far in the Fall product selling season."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs