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.
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Website: http://www.motherswork.com/
Website: http://www.destinationmaternity.com/