PHILADELPHIA, March 6 /PRNewswire-FirstCall/ -- Mothers Work, Inc.
(Nasdaq: MWRK), the world's leading maternity apparel retailer, today
announced that net sales for the month of February 2008 increased 4.1% to
$45.7 million from $43.9 million reported for the month of February 2007.
The increase in sales versus last year resulted primarily from an increase
in comparable store sales. Comparable store sales for February 2008
increased 4.8% (based on 1,402 locations) versus a comparable store sales
decrease of 4.7% (based on 1,440 locations) for February 2007. The
comparable store sales and total sales figures for February 2008 benefited
from having 29 days in February 2008 compared to 28 days in February 2007.
Comparable store sales for the first 28 days of this February versus last
February increased 0.8%. During February 2008, the Company opened six
stores and closed three stores. As of the end of February 2008, the Company
operates 766 stores, 770 leased department locations and 1,536 total retail
locations, compared to 794 stores, 830 leased department locations and
1,624 total retail locations operated at the end of February 2007.
Rebecca Matthias, President and Chief Creative Officer of Mothers Work,
noted, "We are pleased with the continued improvement in our sales trend
for February, as we experienced more seasonal temperatures compared to an
unusually cold February 2007. Looking forward, we continue to feel very
good about our product lines, our inventory position and our overall
business; however, we recognize that we continue to be faced with a weak
overall economic and retail environment and are still seeing some negative
impact from the more pregnancy-friendly fit of certain non-maternity
fashion trends, such as trapeze and baby-doll dresses and tops.
Importantly, though, we expect this fashion trend to further diminish in
the Spring 2008 selling season, thus helping our sales trend over the next
several months. We also expect to see sales benefits from continuing to
refine our merchandise assortments and our in-store merchandise
presentation. We continue to focus on developing great maternity product
under each of our brands and on improving our sales and profitability
performance, including continuing to roll out our multi-brand stores."
Mothers Work 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." As of February 29, 2008,
Mothers Work operates 1,536 maternity locations, including 766 stores,
predominantly under the tradenames Motherhood Maternity(R), A Pea in the
Pod(R), Mimi Maternity(R), and Destination Maternity(R), and sells on the
web through its DestinationMaternity.com and brand-specific websites. In
addition, Mothers Work distributes its Oh Baby by Motherhood(TM) collection
through a licensed arrangement at Kohl's(R) stores throughout the United
States and on Kohls.com.
The Company cautions that any forward-looking statements (as such term
is defined in the Private Securities Litigation Reform Act of 1995)
contained in this press release or made from time to time by management of
the Company, including those regarding expected results of operations,
liquidity and financial condition and various business initiatives, involve
risks and uncertainties, and are subject to change based on various
important factors. The following factors, among others, in some cases have
affected and in the future could affect the Company's financial performance
and actual results and could cause actual results to differ materially from
those expressed or implied in any such forward-looking statements: our
ability to successfully manage our various business initiatives, our
ability to successfully manage and retain our leased department and
licensed relationships and marketing partnerships, future sales trends in
our existing store base, weather, changes in consumer spending patterns,
raw material price increases, consumer preferences and overall economic
conditions, the impact of competition and pricing, availability of suitable
store locations, continued availability of capital and financing, ability
to hire and develop senior management and sales associates, ability to
develop and source merchandise, ability to receive production from foreign
sources on a timely basis, potential stock repurchases, potential debt
prepayments, changes in market interest rates, war or acts of terrorism,
and other factors set forth in the Company's periodic filings with the
Securities and Exchange Commission, or in materials incorporated therein by
reference.
SOURCE Mothers Work, Inc.
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Related links:
http://www.motherswork.com
http://www.destinationmaternity.com
http://www.prnewswire.com/comp/581877.html /
CONTACT:
Edward M. Krell, Chief Operating Officer &
Chief Financial Officer of Mothers Work, Inc., +1-215-873-2220
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