Tuesday, November 6, 2018

Destination Maternity to close 117 stores amid turnaround

Retail Dive
Destination Maternity last week said it will close 117 store and leased shops by the end of this year, with plans to shutter between 42 to 67 stores in fiscal 2019. The closures are part of a multiyear strategic plan, according to a press release.

The company expects to save between $2.3 million and $2.5 million from lease renewal negotiations this year, plus another $1 million from a new performance-based executive compensation scheme, CEO Marla Ryan said on a conference call.. . . more