Shares of Destination Maternity Corp. rose almost 55 percent in the two days after the maternity apparel retailer reported a second-quarter loss that was far lower than expected and raised its full-year guidance.
For the period ended March 31, the Philadelphia-based firm recorded a net loss of $1.9 million, or 32 cents a diluted share, compared with a net loss of $390,000, or 7 cents a share, in the year-ago quarter. Stripping out a goodwill charge of $3.4 million, the company’s net income totaled $1.5 million, or 25 cents a share. In January, the retailer forecasted a loss of between 22 and 35 cents a share, excluding charges.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)