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Destination Maternity net income drops in Q2 on adverse weather
Philadelphia -- Destination Maternity Corp. reported that net income for the quarter ended March 31, 2014 dipped to $3.2 million, compared to $5.9 million in the same period last year.
Revenue fell 6.5% to $126.1 million from $134.9 million, and same-store sales decreased 5.1%. CEO Ed Krell blamed the disappointing results on inclement weather.
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Extreme weather was no match for Tractor Supply
Sales of animal- and pet-related merchandise and winter seasonal items helped push up sales at Tractor Supply Co. in the first quarter ended March 29.
Net sales increased 9% in the quarter to $1.18 billion, up from $1.09 billion in the same quarter last year. Comparable-store sales increased 2.2%.
Net income for the quarter increased 10.9% to $48.8 million, up from $44 million
Greg Sandfort, president and CEO, said the first-quarter results demonstrated an ability to perform during tough weather conditions.