Destination Maternity Falls To Loss In Q4 - Quick Facts

(RTTNews) - Destination Maternity Corp. (DEST), a retailer of maternity clothes, Thursday reported loss for its fiscal fourth quarter, compared with profit last year, as comparable sales declined 5 percent and price cuts pressured gross margin.

Anthony Romano, the chief executive officer of Destination Maternity, said in a news release that he believes the company's products were not completely in line with customer expectations.

For the three months to September, net loss totaled $2.48 million, or $0.18 per share, compared with a profit of $5.63 million, or $0.42 per share, a year ago.

Loss, on adjusted basis, was $1.83 million, or $0.14 per share.

Net sales declined to $122.05 million, from $128.25 million a year earlier.