Posted on Thu, Jul. 9, 2009
Destination Maternity Corp. lifted its third-quarter earnings forecast today, citing lowered expenses and inventory-management efforts.
The Philadelphia-based maternity apparel retailer said it expects its quarterly profit to surpass the top end of the 74 cents per share to 91 cents per share range it previously provided.
Last third quarter, it earned 68 cents per share.
Destination Maternity ran 730 stores, 357 leased department locations and 1,087 total retail locations as of the end of June. It opened one store and close one store during the month.
Shares were trading at $17.78, up $1.07 (6.40 percent), shortly after the Nasdaq market opened today.
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