Mothers Work sales in line with revised expectations for July
09 Aug '07
3 min read
Mothers Work Inc the world's leading maternity apparel retailer announced that net sales for the month of July 2007 decreased 10.1% to $42.2 million from $47.0 million reported for the month of July 2006.
The decrease in sales versus last year resulted primarily from a decrease in comparable store sales and, to a much lesser extent, decreased sales from the Company's licensed relationship.
Comparable store sales for July 2007 decreased 9.4% (based on 1,388 locations) versus a comparable store sales increase of 3.9% (based on 1,470 locations) for July 2006.
The comparable store sales decrease of 9.4% for July 2007 was unfavorably impacted by approximately 2 to 3 percentage points due to having four Saturdays in July 2007 compared to five Saturdays in July 2006.
The comparable store sales increase of 3.9% for July 2006 was unfavorably impacted by approximately 1 to 2 percentage points due to having one less Friday and one more Monday in July 2006 compared to July 2005. During July 2007, the Company opened no stores and closed two stores, including one store closing related to a prior period multi-brand store opening.
As of the end of July 2007, the Company operates 785 stores, 802 leased department locations and 1,587 total retail locations, compared to 813 stores, 714 leased department locations and 1,527 total retail locations operated at the end of July 2006.
Rebecca Matthias, President and Chief Creative Officer of Mothers Work noted, "Our sales for July were in line with our revised expectations for the month that we provided in our July 24, 2007 press release, with an actual comparable store sales decrease of 9.4% for the month compared to our revised expectations of a comparable store sales decrease of between 8.0% and 10. 5%."
marketing@alchempro.com
