Mothers Work (MWRK) August Comps Down 3.7%
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Mothers Work, Inc. (Nasdaq: MWRK) said comparable store sales for August 2007 decreased 3.7%.
Net sales for the month of August 2007 increased 1.6% to $47.1 million from $46.4 million reported for the month of August 2006.
Rebecca Matthias, President and Chief Creative Officer of Mothers Work, noted, "Our sales for the month of August improved significantly compared to July as we saw the beneficial sales impact of markdowns we took on Spring merchandise, although this has continued to put pressure on our gross margin. Our sales for August continued to reflect a difficult overall economic and retail environment, as well as negative impact from the current popularity of certain styles in the non-maternity women's apparel market, such as trapeze and baby-doll dresses and tops, which can more readily fit a pregnant woman early in her pregnancy than typical non-maternity fashions. It is very important to note that with our aggressive actions to manage our inventory level, including increasing our markdown levels compared to our pre-season plans, we believe we can continue to manage our inventory level without resorting to excessive markdown levels."
Net sales for the month of August 2007 increased 1.6% to $47.1 million from $46.4 million reported for the month of August 2006.
Rebecca Matthias, President and Chief Creative Officer of Mothers Work, noted, "Our sales for the month of August improved significantly compared to July as we saw the beneficial sales impact of markdowns we took on Spring merchandise, although this has continued to put pressure on our gross margin. Our sales for August continued to reflect a difficult overall economic and retail environment, as well as negative impact from the current popularity of certain styles in the non-maternity women's apparel market, such as trapeze and baby-doll dresses and tops, which can more readily fit a pregnant woman early in her pregnancy than typical non-maternity fashions. It is very important to note that with our aggressive actions to manage our inventory level, including increasing our markdown levels compared to our pre-season plans, we believe we can continue to manage our inventory level without resorting to excessive markdown levels."
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