Destination Maternity Q3 Comps Up 4.9%;sees Q3 EPS To Be Top Half Of Prior Range

(RTTNews) - Destination Maternity Corp. (DEST) reported that its third-quarter comparable sales increased 4.9%, compared to a decline of 2.4% in the prior year quarter. Adjusted for calendar timing shift, comparable sales for the quarter grew 5.3%, compare to a decrease of 1.5% last year.

Net sales for the third quarter of fiscal 2013 increased 2.2% to $141.9 million from $138.8 million reported for the third quarter of fiscal 2012. Analysts polled by Thomson Reuters expected the company to report revenues of $140.65 million for the third-quarter. Analysts' estimates typically exclude special items.

The increase in total reported sales for the third quarter of fiscal 2013 compared to the third quarter of fiscal 2012 resulted primarily from the increase in comparable sales, partially offset by decreased sales related to the Company's continued efforts to close underperforming stores, and decreased sales due to the closure of all of the Company's remaining leased departments within Babies"R"Us stores during the month of October 2012.

The company expects its third quarter fiscal 2013 earnings to be in the top half of its prior earnings guidance range of $0.56 - $0.64 per share and to significantly exceed last year's third quarter earnings of $0.52 per share. Analysts expect the company to report earnings of $0.59 per share for the third-quarter.