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destination maternity corp (DEST) Details

Destination Maternity Corporation designs and retails maternity apparel. As of February 2, 2019, the company operated 1,012 retail locations, including 485 stores in the United States, Canada, and Puerto Rico under the Motherhood Maternity, A Pea in the Pod, and Destination Maternity names; and 554 leased department locations in the United States and Puerto Rico. It also operated 184 international franchised locations comprising 9 stand-alone stores and 175 shop-in-shop locations in the Middle East, South Korea, Mexico, and Israel. The company’s Motherhood Maternity brand serves the moderate priced portion of the maternity apparel business with stores located in regional malls, strip and power centers, and central business districts; and A Pea in the Pod brand offers an assortment of designer label maternity pieces with stores located in regional malls, lifestyle centers, and central business districts. Its Destination Maternity stores provide Motherhood Maternity and A Pea in the Pod products; and a line of maternity-related accessories, nursing products, health and fitness products, books, and body and nutritional products located in regional malls and lifestyle centers. The company also sells its merchandise on the Internet through its Websites, including Motherhood.com, APeaInThePod.com, DestinationMaternity.com, MotherhoodCanada.ca, and Amazon.com, as well as through Websites of retail partners, including Macys.com. The company was formerly known as Mothers Work, Inc. and changed its name to Destination Maternity Corporation in December 2008. Destination Maternity Corporation was founded in 1982 and is headquartered in Moorestown, New Jersey.

1,100 Employees
Last Reported Date: 04/16/19
Founded in 1982

destination maternity corp (DEST) Top Compensated Officers

COO & CFO
Total Annual Compensation: $304.1K
President of Product Design, Sourcing & Merch...
Total Annual Compensation: $640.9K
Senior VP & Chief Accounting Officer
Total Annual Compensation: $398.8K
Compensation as of Fiscal Year 2018.
destination maternity corp
Destination Maternity Corporation Announces Reduction in Force

Destination Maternity Corporation announced a reduction in force (RIF) that is expected to generate cost savings of $4.0 million - $4.5 million on an annualized run-rate basis. The reduction is part of the company’s effort to become a more efficient and profitable organization. As Destination Maternity is continuing to focus on a key item driven assortment, with more emphasis on evergreen product, the RIF will primarily impact the company’s product pipeline teams. The RIF is expected to result in a one-time severance charge of approximately $1.3 million - $1.5 million during the second quarter of 2019 with severance benefits paid out ratably. Customary transition assistance will be provided to affected employees.

Destination Maternity Corporation Announces Senior Leadership Transition and Appoints New Board Member

Destination Maternity Corporation announced that Marla Ryan, by mutual agreement with the Board of Directors, will step down as Chief Executive Officer, effective June 13, 2019. Destination Maternity also announced it has appointed Gene Davis to its Board of Directors, effective June 13, 2019, serving as Chairman of the Destination Maternity Board of Directors. Upon his appointment, Mr. Davis will serve as Chairman of the Destination Maternity Board of Directors. The Destination Maternity Board has created an interim Office of the CEO, which will provide ongoing leadership and oversight of the day-to-day operations of the Company while a search is conducted for a new CEO. The interim Office of the CEO will be comprised of Lisa Gavales, a member of the Board of Directors, Marla Ryan, now President of product design, sourcing and merchandising and Dave Helkey, current CFO and COO. Ms. Gavales will serve as Chair of the Office of the CEO. Currently, Mr. Davis serves as the Chairman and Chief Executive Officer of PIRINATE Consulting Group, LLC.

Destination Maternity Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended May 4, 2019

Destination Maternity Corporation announced unaudited consolidated earnings results for the first quarter ended May 4, 2019. For the quarter, the company announced net sales of $94,213,000 compared to $103,227,000 for the same period a year ago. Operating income was $1,576,000 compared to $1,427,000 for the same period a year ago. Net income was $130,000 compared to $214,000 for the same period a year ago. Net income per share, basic and diluted was $0.01 compared to $0.02 for the same period a year ago.

 

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