Maidenform Brands reports Q1 sales increase

Maidenform Brands has seen its Q1 net sales rise by 14.5 percent year on year to $163.6m (£100.5m).
Consolidated gross profit increased by 7.3 percent to $55.7m (£34.2m) for the quarter, compared with the previous year’s results.

The wholesale segment performed better than the company’s retail sector, with sales increases of 15.5 percent and 2.7 percent, respectively.

Net sales for the department stores and national chain stores channel increased by 8.5 percent to $63.7m (£39.2m) for the first quarter, compared with 2010. This increase was primarily attributed to international growth, expansion of the Donna Karan business and to new distribution of Maidenform products, including Flexees shapewear, at a chain customer.

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Mass merchant channel net sales increased by 31.5 percent to $58m (£35.7m) during the same period. This increase was a result of increased sales, particularly in shapewear, at one of the company’s ‘mass customers’, as well as the Company’s assortment of strapless and full-figure products with this mass customer, and strong bra replenishment and shapewear placement at a warehouse club.

Maidenform Brands chief executive Maurice Reznik said: "These results complete our ninth consecutive quarter of increased sales for Maidenform, a trend we intend to continue as we leverage our products globally to extend the reach of our brands and deliver profitable growth for our shareholders."

Maidenform Brands, Inc. is a global intimate apparel company with a portfolio of established brands and products. Maidenform sells its products under brands including Maidenform, Control It!, Fat Free Dressing, Flexees, Lilyette, Luleh, Maidenform’s Charmed, Bodymates, Inspirations, Self Expressions and Sweet Nothings. Maidenform products are currently distributed in approximately 64 countries and territories outside the United States.

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