Friday, September 8, 2017

Destination Maternity CEO out; Q2 sales slide

The struggling maternity apparel retailer said that Anthony M. Romano is stepping down as president, CEO and board member as part of a mutual agreement, effective Sept. 7.
Destination Maternity has been struggling with sliding sales as online competition and decreased mall traffic impacted its revenues. On Wednesday, Destination Maternity reported net sales of $98.3 million for its second quarter, down from $106.5 million in the year-ago period. The decrease was attributed to the closure of underperforming stores, a 3.4% decline in comparable sales, and the exit of the company's relationship with Kohl's.. . . more

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