Destination Maternity is exploring a possible sale or merger in addition to "value-enhancing initiatives" should the company remain independent. The latter includes capital structure "optimization," as well as the sale or disposition of some business assets, the company said Tuesday. No timeline was set for the strategic review.
The announcement comes as second quarter sales fell nearly 12% year over year to $84.9 million. Driving the decline were 61 store closures in Q2 and a 10.5% drop in comparable sales.. . . more