Emphasis on operational and financial management kept maternity apparel retailer Destination Maternity Corp.'s first-quarter loss above expectations, but its revenue missed company guidance.
For the quarter ended Dec. 31, the Philadelphia-based firm reported a net loss of $46.9 million, or $7.86 a diluted share, versus a net loss of $352,000, or 6 cents a share, in the year-ago quarter. Excluding a noncash goodwill impairment charge of $47 million, a loss from extinguishment of debt and restructuring charges, the company recorded profit of $234,000, or 4 cents a diluted share, compared with a net loss of $352,000, or 6 cents a share.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"