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Destination Maternity Q1 profit up
Philadelphia -- Destination Maternity, free of the restructuring charges that put a dent into profits last year, said its first-quarter net income more than quadrupled, easily topping Wall Street expectations. The chain reported earnings of $5.2 million from October to December, compared with $1.3 million for the same period in the prior year.
Revenue increased 1.2% to $135.4 million.
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Simon adds leasing, management and marketing duties at California center
Indianapolis -- Simon Property Group said Wednesday that, effective Feb. 1, it will assume leasing, management and marketing duties at The Shops at Montebello, a Los Angeles-area shopping center.
The Shops at Montebello is a regional enclosed mall built in 1985 with approximately 758,000 sq. ft. The center is home to over 160 retailers and is anchored by Macy's, Macy's Home, J.C. Penney and Forever 21.