Destination Maternity Q1 Profit Declines - Quick Facts

(RTTNews) - Destination Maternity Corp. (DEST), a retailer of maternity clothes, Thursday reported first-quarter net income of $2.5 million or $0.19 per share, compared to $7.7 million or $0.57 per share in the prior year.

On an adjusted basis, net income for the latest first quarter was $3.7 million, or $0.27 per share.

Net sales declined to $141.6 million, from $143.5 million a year earlier. The slight decrease in total reported sales resulted primarily from decreased sales related to the Company's continued efforts to close underperforming stores and a decrease in comparable sales, substantially offset by increased international sales.

Comparable sales for the first quarter of fiscal 2015 decreased 1.1%, compared to a 4.0% decrease for the three months ended May 3, 2014.

For the full year fiscal 2015, the company expects comparable sales increase in the low single digits with greater comparable sales increases later in the fiscal year.