Maidenform Brands Inc. reported a less-than-expected decline in second-quarter profits and raised full-year guidance Wednesday, boosting shares nearly 7 percent.
For the three months ended July 4, the innerwear vendor said net income fell 6.8 percent to $7.3 million, or 31 cents a diluted share, from $7.8 million, or 33 cents, in the year-ago quarter. Net sales rose 5.9 percent to $114.2 million, from $108.1 million in 2008, aided by a 9.2 percent increase in shapewear sales. Analysts expected earnings per share of 25 cents on revenue of $111.6 million, according to Yahoo.
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)