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Destination Maternity Q4 profit triples
Philadelphia -- Destination Maternity said its fourth-quarter net income tripled as cost-cutting measures paid off, even as sales in some categories fell.
The company earned almost $4.3 million for the quarter that ended Sept. 30, up from $1.4 million during the same period last year. Revenue rose slightly to $124.3 million, from $123.8 million a year earlier. Same-store sales fell 2.3%.
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Gap to open flagship in Italy
San Francisco -- Gap will open its first Italian flagship on Saturday in the Corso Vittorio Emanuele shopping district of Milan.
The company said that it also plans to open an additional Gap store in Rome next year and a Banana Republic store adjacent to its Milan location "in the near future." The Milan Gap store spans three floors and 25,500 sq. ft. and will offer all Gap clothing collections.