From the Wires
Destination Maternity Corporation Announces Opening of First Destination Maternity Store in Canada
By: PR Newswire
Jan. 10, 2013 06:00 AM
PHILADELPHIA, Jan. 10, 2013 /PRNewswire/ -- Destination Maternity Corporation (NASDAQ: DEST), the world's leading maternity apparel retailer, will open the first Destination Maternity® store in Canada on Thursday, January 10 in Calgary, Alberta at the Kingsland Village retail development just south of Chinook Centre on Macleod Trail. The store will carry A Pea in the Pod® branded maternity apparel, marking the first time Destination Maternity's luxury maternity collection, which features maternity denim from designer brands including AG, J Brand and 7 For All Mankind, will be available in Canada. The store will also carry Motherhood Maternity® branded maternity apparel which is already available at 34 Motherhood Maternity stores throughout Canada and online at http://www.motherhoodcanada.ca. Along with a compelling selection of maternity apparel from both brands and an expert assortment of accessories and nursing apparel— everything mom-to-be needs for pregnancy and beyond—the approximately 3,300 square-foot-space will house a relaxation area for family members and friends complete with plush chairs and a flat screen TV, along with a play area for children.
"We are excited to expand our availability and our offering to moms-to-be in Canada," said Ed Krell, the Company's Chief Executive Officer. "Opening a store along the Macleod Trail corridor, one of Calgary's premiere shopping destinations, is a great opportunity to increase the reach of the Motherhood Maternity brand as well as introduce our luxury A Pea in the Pod brand to a market where there is a clear demand for maternity apparel at both moderate and better price points."
About Destination Maternity Corporation
Destination Maternity Corporation is the world's largest designer and retailer of maternity apparel. In the United States and Canada, as of December 31, 2012, Destination Maternity operates 1,887 retail locations, including 621 stores, predominantly under the tradenames Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity®, and 1,266 leased department locations, and sells on the web through its DestinationMaternity.com and brand-specific websites. Destination Maternity also distributes its Oh Baby by Motherhood® collection through a licensed arrangement at over 1,100 Kohl's® stores throughout the United States and on Kohls.com. In addition, Destination Maternity is expanding internationally and has exclusive store franchise and product supply relationships in India, the Middle East and South Korea. As of December 31, 2012, Destination Maternity has 137 international franchised locations, including 121 shop-in-shop locations and 16 Destination Maternity branded stores.
The Company cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made from time to time by management of the Company, including those regarding international expansion and various business initiatives, involve risks and uncertainties, and are subject to change based on various important factors. The following factors, among others, in some cases have affected and in the future could affect the Company's financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any such forward-looking statements: the continuation of the economic recovery of the retail industry in general and of apparel purchases in particular, our ability to successfully manage our various business initiatives, the success of our international business and its expansion, our ability to successfully manage and retain our leased department and licensed relationships and marketing partnerships, future sales trends in our existing retail locations and through the Internet, unusual weather patterns, changes in consumer spending patterns, raw material price increases, overall economic conditions and other factors affecting consumer confidence, demographics and other macroeconomic factors that may impact the level of spending for maternity apparel, expense savings initiatives, our ability to anticipate and respond to fashion trends and consumer preferences, unanticipated fluctuations in our operating results, the impact of competition and fluctuations in the price, availability and quality of raw materials and contracted products, availability of suitable store locations, continued availability of capital and financing, our ability to hire and develop senior management and sales associates, our ability to develop and source merchandise, our ability to receive production from foreign sources on a timely basis, potential stock repurchases, the continuation of the regular quarterly cash dividend, the trading liquidity of our common stock, changes in market interest rates, war or acts of terrorism and other factors set forth in the Company's periodic filings with the Securities and Exchange Commission, or in materials incorporated therein by reference.
SOURCE Destination Maternity Corporation
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