Mothers Work Q1 sales rises 13.3%, same-store sales up
08 Feb '06
4 min read
"Our targeted sales for fiscal 2006 reflect our plan to open between 15 and 22 new stores during the year, including approximately 5 to 10 new multi-brand stores, and close approximately 55 to 65 stores, with approximately 15 to 20 of these planned store closings related to openings of new multi-brand stores, including our Destination Maternity Superstores.
"We project that our gross margin for fiscal 2006 will be approximately 51.7% of net sales, an increase from our 50.6% gross margin in fiscal 2005, driven by a planned increase in gross margins in our own stores versus last year, partially offset by the full year impact of the lower gross margin realized on sales from our licensed business.
"Looking forward to fiscal 2007, we expect to generate significantly higher earnings than fiscal 2006, while generating significant positive free cash flow," he said.
Mothers Work Inc is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack(TM) merchandise analysis and planning system as well as its quick response replenishment process to "give the customer what she wants, when she wants it."
Mothers Work operates 1,579 maternity locations, including 839 stores, predominantly under the tradenames Motherhood Maternity(R), A Pea in the Pod(R), Mimi Maternity(R), and Destination Maternity(TM), and 740 leased departments.
marketing@alchempro.com
