Maternity apparel retailer Mothers Work has a posted full-year net loss of $1.4m for 2008, compared to net loss for fiscal 2007 of $0.4m, included restructuring and other charges of $2.2m.

Net sales for the fiscal year ended 30 September decreased 2.9% to $564.6m, primarily from a decrease in sales from the company's leased department and licensed relationships.

This was largely due to the termination of its Sears leased department relationship in June 2008, and reduced sales volume from the closure of underperforming stores, partially offset by increased internet sales and a slight increase in comparable store sales.

Same-store sales increased 0.2% during fiscal 2008, based on 820 locations, versus a comparable store sales decrease of 4.8% during fiscal 2007, based on 1,330 locations.

Net sales for the fourth quarter decreased 3.9% to $130.5m and were at the low end of the company's guidance range. Net loss for the quarter was $4.8m, compared to net loss for the fourth quarter of fiscal 2007 of $5.4 - consistent with revised guidance

Ed Krell, chief executive officer of Mothers Work, said: "Although we are by no means satisfied with our earnings performance for the fiscal 2008 fourth quarter or full year, we are pleased with our sales performance in recent months given the extremely weak overall economic environment, and we believe we are taking the right actions to manage our business in this tough environment."

Mothers Work's financial guidance for the full year fiscal 2009 is for net sales in the $544 to $555m range, representing a decrease of between 1.7% and 3.6% versus fiscal 2008. It also expects a same-store sales change of between down 2.0% and flat, down from July 2008 guidance for fiscal 2009 same-store sales of between down 1% to up 1%.