Mothers Work Q1 sales rises 13.3%, same-store sales up
08 Feb '06
4 min read
Leading maternity apparel retailer Mothers Work Inc has announced strong operating results for the first quarter of fiscal 2006 ended December 31st 2005, and significantly increased its targeted earnings guidance range for the full year fiscal 2006.
The net sales for the first quarter of fiscal 2006 increased 13.3 percent to $151.4 million from $133.6 million in the same quarter of the preceding year. The increase in net sales for the quarter was primarily driven by sales from the expansion of the company's proprietary Two Hearts(TM) Maternity collection to an additional 497 Sears(R) locations during late March 2005, sales from the Company's Oh Baby! by Motherhood(TM) licensed arrangement with Kohl's(R), which launched during the second quarter of fiscal 2005, as well as an increase in same-store sales.
Same-store sales increased 3.1 percent during the first quarter of fiscal 2006 (based on 1,019 locations) versus a same-store sales decrease of 4.2 percent during the first quarter of fiscal 2005 (based on 894 locations). The same-store sales increase of 3.1 percent for the first quarter of fiscal 2006 was favorably impacted by approximately 0.5 percentage points due to having five Saturdays in December 2005 compared to four Saturdays in December 2004.
For the quarter ended December 31st 2005, the company opened 6 stores (including the reopening of 3 stores which had been closed since late August 2005 due to Hurricane Katrina) and closed 7 stores.
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