
For the third quarter ending October 28, 2017, e-commerce sales at Destination Maternity increased 54.3 per cent from the prior year, according to a release from the US maternity wear firm.
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For the third quarter ending October 28, 2017, e-commerce sales at Destination Maternity increased 54.3 per cent from the prior year, according to a release from the US maternity wear firm.
In the first 6 months of the 2017-18 year, Orchestra-Prémaman grew its revenue and reduced its net loss to €5.6 million, an improvement over the nearly €11 million loss a year earlier.
Destination Maternity's interim CEO updated shareholders with company developments which include an expanded ecommerce business up 30% in comp sales over last year and a forecasted $10-11M saving for next fiscal year.
After the two groups' failed merger, the French children's specialist wrote a letter to the US maternity wear brand's shareholders, urging them not to renew their directors' mandate.
Sales for the maternity apparel company suffered as a result of the severance of its relationship with Kohl’s, Sears and Gordmans, with net sales falling from $106.5 million to $98.3 million for the second quarter.
After announcing plans to merge in December of 2016, the two companies have now revealed the termination of their prior deal. The two parties cited interests of their shareholders as the reason for calling off the deal.
On Wednesday, the French childrenswear specialist published a revenue result of €154.1 million, up 3.7%, for the first quarter of its non-standard fiscal year 2017-18.
Childrenswear specialist Orchestra reported a net loss of €33.6 million for the fiscal year closed at the end of February, and appointed a new CFO, seeking to rebalance its books by 2020.
The maternity apparel retailer posted a decrease in net sales and comparable sales in the fourth quarter and full year 2016, due to winding down relationships with Kohl's, Sears and Gordmans.
The French group, which plans to merge with American childrenswear brand Destination Maternity, has recorded a revenue of 609.4 million euros in 2016/17, buoyed by a 50% increase in its childcare segment.