Destination Maternity news and archive

Destination Maternity announces appointment of two senior executives

Destination Maternity Corporation has announced the appointment of Dave J. Helkey to the position of Chief Financial Officer and Chief Operating Officer, reporting to CEO Marla Ryan, effective January 21, 2019. Additionally, the company entered into a consulting agreement with Doug Goeke, to serve in a newly created role of Chief Transformation...

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Destination Maternity: Store closures negatively impact Q3 net sales

Destination Maternity Corporation, for its third quarter reported net sales decrease of 3.7 percent to 92.8 million dollars due to net closure of 27 company-owned locations and 12 leased lease locations in addition to a decrease in comparable sales. Comparable sales for the quarter decreased 2.6 percent compared to an increase of 1.1 percent in...

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Destination Maternity to restructure business, reduce headcount

Destination Maternity Corporation has announced a multiyear strategic plan, Destination -> Forward, focusing on driving profitable growth and long-term shareholder value. The company anticipates the plan will help achieve FY 2022 goals of adjusted EPS of 1.20 dollars to 1.60 dollars, adjusted EBITDA of 42 million dollars to 51 million dollars,...

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Destination Maternity signs credit agreement with Bank of America

Destination Maternity Corporation has signed a commitment letter with Bank of America for a new five year 76 million dollars facility to refinance and replace the company’s existing 50 million dollars asset based loan and 25 million dollars term loan. The company said in a statement that this new facility will result in annual interest savings...

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Destination Maternity Q2 comparable sales rise 1.2 percent

Destination Maternity Corporation has reported 1.9 percent decrease in second quarter net sales to 96.4 million dollars, negatively impacted by the net closure of 27 retail stores, partially offset by an increase in comparable sales. Comparable sales for the second quarter increased 1.2 percent, compared to a decrease of 3.4 percent in the...

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Destination Maternity CFO David Stern resigns

Destination Maternity Corporation has announced that David Stern, executive vice president and Chief Financial Officer, has departed the company, effective August 10, 2018. “We are confident in the abilities and talents of our finance and accounting teams and our experienced Chief Accounting Officer, Rodney Schriver,” said Marla A. Ryan, Chief...

Management

Destination Maternity appoints Andrea Funk to its board of directors

Destination Maternity Corporation has announced the appointment of Andrea J. Funk to its board of directors, effective immediately. Funk, the company said, brings over 20 years of public and private company leadership experience, with a focus on financial expertise, strategic operations, corporate governance and manufacturing and has also led...

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Destination Maternity extends CEO Marla Ryan’s contract

Destination Maternity Corporation has extended the contract of its Chief Executive Officer Marla Ryan from July 30, 2018 to September 30, 2018, the date by which, the company said, it intends to enter into a new and more complete employment agreement. Commenting on the development, the company’s Independent Chair of the board of directors,...

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Destination Maternity Q1 net sales drop 3 percent

Destination Maternity Corporation has said net sales for the first quarter of fiscal 2018 decreased 3 percent to 103.2 million dollars from 106.4 million dollars for the first quarter of fiscal 2017, which included 0.8 million dollars related to a change in the method of accounting for gift card breakage. Comparable sales for the quarter...

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Destination Maternity’s chief administrative officer resigns

Destination Maternity Corporation’s executive vice president & chief administrative officer Ronald J. Masciantonio, is departing the company to pursue other opportunities, effective immediately. The company said that it does not plan to pursue a new chief administrative officer at this time. “For over thirteen years, Ron has been a valuable...

ManagementFeatured

Marla Ryan assumes CEO role at Destination Maternity

Destination Maternity Corporation has announced that the company’s board of directors has appointed Marla. A. Ryan to the position of Chief Executive Officer, effective immediately. The company said, Ryan replaces Melissa Payner-Gregor, who served as an interim CEO since January 2018 and director of the company since August 2009, who is exiting...

ManagementFeatured

Destination Maternity FY17 comparable sales decline 1.5 percent

Destination Maternity Corporation said that net sales for the fourth quarter rose to 105.1 million dollars driven by an increase in comparable retail sales as well as additional sales generated in the 53rd week. Comparable sales for the quarter increased 5.2 percent. For the full fiscal year, net sales were 406.2 million dollars compared with...