Destination Maternity: Store closures negatively impact Q3 net sales

Destination Maternity Corporation, for its third quarter reported net sales decrease of 3.7 percent to 92.8 million dollars due to net closure of 27 company-owned locations and 12 leased lease locations in addition to a decrease in comparable sales. Comparable sales for the quarter decreased 2.6 percent compared to an increase of 1.1 percent in the third quarter of fiscal 2017. Gross margin reduced 40 basis points to 52.4 percent.