Destination Maternity swings to loss in tough Q2

Moorestown, N.J. – Destination Maternity Corp. swung to a loss in a generally difficult second quarter of fiscal 2015.



Costs related to store closures and headquarters relocation helped drive the retailer to a net loss of $2.68 million from net income of $321,000 a year earlier.



Net sales slipped 1% to $119.31 million, from $120.84 million. Same-store sales rose 2%. The retailer remains focused on three key initiatives of becoming more customer-focused and product-centric with a more rigorous product lifecycle calendar, driving sales growth and inventory productivity by better marketing to millennials, and building a winning culture based on better inventory allocation.



Destination Maternity expects flat same-store sales in fiscal 2015, compared to the prior period.