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Destination Maternity sales disappoint in Q4
Philadelphia – Net sales at Destination Maternity Corp. dropped 5% to $122 million in the fourth quarter of fiscal 2014, from $128.3 million the same quarter a year earlier. Same-store sales, including Internet sales, declined 5%.
Net sales declined primarily from the decrease in same-store sales and decreased sales related to the company's continued efforts to close underperforming stores. Sales results were below previously released guidance.
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Destination Maternity has ‘disappointing’ fourth quarter
A decrease in same-store sales and losses resulting from Destination Maternity’s continued efforts to close underperforming stores fueled a net sales decline in the fourth quarter — just two months after Anthony Romano came on board as CEO.
Net sales at Destination Maternity dropped 5% to $122 million in the fourth quarter of fiscal 2014, from $128.3 million the same quarter a year earlier. Same-store sales, including Internet sales, declined 5%. Sales results were below previously released guidance.
