Destination Maternity posts marginal fall in FY'13 sales

Fourth quarter fiscal 2013 earnings include a state income tax benefit expected to be realized in the quarter. Net sales for the fourth quarter of fiscal 2013 decreased 0.2% to $128.3 million from $128.5 million reported for the fourth quarter of fiscal 2012.

The slight decrease in total reported sales for the fourth quarter of fiscal 2013 compared to the fourth quarter of fiscal 2012 resulted primarily from decreased sales related to the Company's continued efforts to close underperforming stores, and decreased sales due to the closure of all of the Company's remaining leased departments within Babies"R"Us stores during the month of October 2012, substantially offset by increased sales from the Company's licensed relationship and the increase in comparable sales.

Net sales for the fiscal year ended September 30, 2013 decreased 0.2% to $540.3 million from $541.5 million reported for the full year fiscal 2012.

The slight decrease in total reported sales for the full year fiscal 2013 compared to the full year fiscal 2012 resulted primarily from decreased sales related to the Company's continued efforts to close underperforming stores, and decreased sales due to the closure of all of the Company's remaining leased departments within Babies"R"Us stores during the month of October 2012, substantially offset by the increase in comparable sales and increased sales from the Company's licensed relationship.

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Destination Maternity