Sales dip marginally at intimate apparel brand Maidenform
06 Nov '08
4 min read
Financial Performance Expectations for 2008:
Full year net sales in a range of flat to down 1% versus 2007; compared to previous guidance of net sales in a range of down 1% to up 1% with the lower end of the previous range reflecting the elimination of sales resulting from the bankruptcies of Mervyns and Boscov's.
Full year gross margins of 38.2% to 38.4%; compared to previous guidance for full year gross margins of 38.5% to 39.0% and adjusted to reflect increased promotional activity in the fourth quarter 2008.
Full year EPS of $1.17 to $1.21, including $0.06 per diluted share for start-up investment in the Company's Donna Karan(R) and DKNY(R) business and $0.02 per diluted share for one-time costs associated with the retirement of Maidenform's previous CEO.
This compares to previous EPS guidance of $1.22 to $1.30, with the lower end of the previous range reflecting a loss of sales to Mervyns and Boscov's and further adjusted to reflect the aforementioned fourth quarter increase in promotional activity and CEO retirement costs.
marketing@alchempro.com
