USA: Mothers Work's Q2 Earnings Top Forecasts
Maternity apparel retailer Mothers Work Inc said second-quarter earnings beat expectations due to lower than planned operating expenses, tight expense controls and some shifts of planned expenses to later in the year.
Net loss for the second quarter of 2005 totalled $0.1 million compared to net income of $0.3m in the same quarter last year.
Second-quarter net sales rose 11.3 per cent to $140.0m from $125.8m a year ago, primarily due to the company's new Oh Baby! By Motherhood licensed arrangement with Kohl's, which began during the second quarter of fiscal 2005.
In addition, sales benefited from increased retail location count, driven by the addition of 569 Sears leased departments since March 2004, as well as increases in sales from the company's marketing partnerships and internet business, partially offset by a decrease in same-store sales.
Same-store sales decreased 3.0 per cent during the second quarter of fiscal 2005 compared to a same-store sales increase of 0.2 per cent during the second quarter of 2004.
Rebecca Matthias, president and chief operating officer, said that the company predicts full-year sales within the $565-$571m range, "representing sales growth of approximately 9 per cent to 10 per cent over fiscal 2004, based on the planned sales contribution from our Kohl's and Sears initiatives and our new stores".
Mothers Work designs and retails maternity apparel, operating 863 stores, predominantly under the tradenames Motherhood Maternity, A Pea in the Pod, Mimi Maternity, and Destination Maternity, and 728 leased departments.
Help test our new apparel sourcing tool.
Textiles and clothing make up Thailand's largest manufacturing industry, with more than 4,500 factories employing over one million people. The sector accounts for approximately 20 per cent of total em...
Maternity apparel company Mothers Work Inc has reported a drop in third-quarter earnings after suffering from unexpectedly low sales....
Family-focused retailer Kohl's Corporation has revealed plans to launch Polo Ralph Lauren's Chaps brand for women and boys in all stores and on Kohls.com....
Casual Male Retail Group Inc is launching its big and tall men's apparel on retail giant Sears' e-commerce site sears.com under a long-term agreement....
Mid-price department store chain Kohl's Corporation said first-quarter net income rose 10 per cent on both net sales and same-store sales growth....
Family retailer Kohl's Corporation has signed a license agreement with boadriding brand Quiksilver Inc for a range of Tony Hawk-branded clothing....
Apparel retailer Candie's Inc said profitability of its new licensing and brand management business model pushed up its first-quarter net income....
Sears Holdings Corp and Latina Media Ventures, which publishes Latina magazine, have signed a deal to launch an apparel, footwear and bag collection aimed at Hispanic women....
- What TTIP might mean for US, EU textiles & apparel
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Four steps to reduce product defects
- Geo-political uncertainty and how to survive it
- US Q4 in brief – Finish Line, Oxford Industries
- H&M, VF Corp and Levi among most ethical companies
- Sears has "substantial doubt" of future
- Vietnam limits hazardous chemicals in apparel
- Walmart snaps up online fashion firm ModCloth
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective