The maternity apparel retailer has announced that it is considering strategic alternatives, including a potential sale, following a rough second quarter that saw a significant dip in the company’s revenues.
Hot on the heels of the retailer’s announcement that it is on the lookout for a new CEO, Destination Maternity has announced that it is conducting a reduction in force in an effort to streamline operations and cut costs.
The American maternity-wear retailer announced declining first-quarter sales on Wednesday and revealed that it has begun searching for a new CEO following Marla Ryan’s decision to step down from the post.
The Moorestown, New Jersey-based maternity apparel retailer announced a narrowed fourth-quarter net loss of $6.4 million on Tuesday, as the company’s cost-cutting initiatives helped compensate for tumbling sales.
The Moorestown, New Jersey-based maternity apparel company managed to cut costs and slash its net loss in the third quarter despite slipping sales, as its recently announced multi-year strategy takes hold.
The maternity-wear company announced its new multi-year strategy “Destination -> Forward” on Thursday, setting ambitious targets for 2022 as it seeks to streamline its operations and foster innovation.
Following a complete Board rehaul and the appointment of a new CEO, the Moorestown, New Jersey-based maternity apparel company reported a return to profitability in Q1 2018 as cost-saving measures take hold.