- Ed Krell resigns from Destination Maternity CEO post
- Q3 net income falls at Destination Maternity; 21-23 new stores planned
- Destination Maternity withdraws offer for U.K.’s Mothercraft
- U.K.’s Mothercare rejects Destination Maternity merger offers
- Destination Maternity net income drops in Q2 on adverse weather
Philadelphia -- Destination Maternity its total sales for the second quarter fell 2.1% to $134.9 million from $137.8 million. The company attributed the drop to the closure of all of its remaining leased departments within Babies “R” Us stores in October, along with the closures of underperforming stores.
Despite the sales drop, Destination Maternity said it now expects its second-quarter profit to fall in the top half of its previously projected range of 38 cents to 44 cents per share, crediting tight management of its expenses.
The company said sales during the month of March were probably hurt by unseasonably cold weather in many parts of the country, the company said.