NASDAQ-listed and maternity apparel retailer Destination Maternity Corporation has announced that its Board of Directors has declared a regular quarterly cash dividend of $0.20 per share. The dividend will be paid on December 26, 2014 to shareholders of record at the close of business on December 5, 2014.
The company’s net sales for fiscal year 2014, ending September 30, 2014, dropped 4.3 per cent to $517.0 million from $540.3 million. Destination Maternity attributed the decline in sales to fall in comparable sales and decreased sales related to its continued efforts to close underperforming stores.
Fiscal year 2014 sales were also below the low end of its guidance range of $519.5 to $524.0 million provided in its July 30, 2014 press release.
Destination Maternity Corporation is one of the world’s largest designers and retailers of maternity apparel. In fiscal year 2014, the retailer opened 22 stores, including eight Destination Maternity nameplate stores, and closed 50 stores, including seven closings of Destination Maternity nameplate stores.
As of September 30, 2014, the company operated 568 stores, 1,326 leased department locations and 1,894 total retail locations. (GK)
