US: Mothers Work profit soars 60% in Q3
Maternity wear company Mothers Work said better sales pushed up third-quarter profit to US$8.8m from $5.5m the same time last year.
Quarterly net sales rose 7.3% to $163.9m from $152.7m a year ago, mainly driven by higher same-store sales, which were up 6.4%. The company also enjoyed better internet sales and sales growth from its licensing deal with Kohl's.
President and COO Rebecca Matthias said: "We believe that the oversupply conditions that plagued the maternity apparel business during our fiscal 2004 and 2005 have eased, and we believe that our strong sales trend during fiscal 2006 reflects this.
"We also believe the strength of our product lines helped our sales performance, particularly in the spring/summer selling season.
"We are optimistic about delivering significantly improved financial results for fiscal 2006, as we expect to see a continuation of our improved sales and gross margin trends and expect to realise increased earnings contribution from our new strategic initiatives, including increased contribution from our marketing partnerships, a full year contribution from our Sears and Kohl's initiatives, and the continued rollout of our multi-brand stores."
Help test our new apparel sourcing tool.
John C Walden will join Sears Holdings Corp on 29 January as executive vice president and chief customer officer with responsibility for services, marketing and Sears' direct commerce businesses....
Citing the likelihood of lengthy and expensive litigation, Mothers Work, the Philadelphia, Pennsylvania-based maternity apparel retailer, has agreed to settle a lawsuit brought by the Miami office of ...
Sears Holdings Corp saw comparable-store sales declines at both Sears and Kmart during the November-December period, with apparel a bright spot at both....
In its second management change in as many business days, Wal-Mart Stores on Monday (8 January) appointed Jeff Macho senior vice president of global procurement....
The following is a general roundup of apparel and shoe chains' December 2006 sales results. The list will be updated as new results become available....
Mary P Kwan has joined Goody's Family Clothing, the moderate family apparel chain, as president....
Private equity company Bridgepoint Capital has put Myriad Childrenswear, which makes the Adams Kids, Tu children's and Mini Mode collections, up for sale....
Sports firm Reebok has joined with toy firm Hasbro for a collection of Play-Doh toddlers' footwear....
- Rana Plaza four years on – Timeline of change
- Using worker surveys to drive supply chain change
- Trump and Brexit get a dose of pragmatism
- Where does VF supply chain sit in growth strategy?
- Investment continues in Ethiopia clothing sector
- Inditex, Adidas and Patagonia top ethical report
- Calls for supply chain transparency standard
- US textile industry applauds Trump executive order
- Amazon wins on-demand apparel manufacturing patent
- US Q1 in brief – Steve Madden, Skechers
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Myanmar - ISA Country Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts