Destination Maternity sees second quarter sales fall after its severance from Kohl's
Sales for the maternity apparel company suffered as a result of the severance of its relationship with Kohl’s, Sears and Gordmans, with net sales falling from $106.5 million to $98.3 million for the second quarter of 2017.
Destination Maternity attributed the fall in sales not only to the ending of its partnership with Kohl’s, but also to the closure of underperforming stores. Comparable sales also fell 3.4% for the second quarter of fiscal 2017. E-commerce sales however grew 30.2%.
The maternity retailer also released the results of the first six months of financial 2017, which saw net sales fall from $231 million to $204.7 million. Comparable sales for the period fell 5.5%. The six-month period saw the closure of 13 stores, and the opening of five, bringing its total store count to 507.
In July, Destination Maternity called off its merger with the French group Orchestra-Prémaman, a deal that would have resulted in a $1.1 billion corporation. The two cited the interests of their shareholders in the decision.
Destination Maternity Corporation is based in Moorestown, New Jersey, and operates the brand names Motherhood Maternity, A Pea in the Pod and Destination Maternity. In addition to its retail locations in the United States, Canada and Puerto Rico, it also sells its products through franchise agreements in South Korea, Mexico, Israel and India.
Copyright © 2022 FashionNetwork.com All rights reserved.