Destination Maternity Corporation Expands Relationship With Macy's Destination Maternity Corporation To Become Exclusive Provider Of Maternity And Nursing Apparel For Macys.com In 2014
PHILADELPHIA, Dec. 16, 2013 /PRNewswire/ -- Destination Maternity Corporation (NASDAQ: DEST), the world's leading maternity apparel retailer, today announced it will expand its maternity apparel leased department relationship with Macy's, the largest retail brand of Macy's, Inc. (NYSE: M), by becoming the exclusive provider of maternity and nursing apparel for macys.com, beginning late January 2014.
Destination Maternity has been offering its merchandise in Macy's stores for over 20 years. Currently, Destination Maternity operates leased departments in over 600 Macy's locations. These leased departments typically carry a combination of Motherhood Maternity®, A Pea in the Pod®, A Pea in the Pod Collection® and Jessica Simpson Maternity branded merchandise, with product assortments tailored to each store location consistent with the My Macy's localization approach.
Ed Krell, Chief Executive Officer of Destination Maternity, commented, "We are pleased to continue to build upon our exclusive and longstanding relationship with Macy's, which has been a successful partnership for both companies and a win for our customers. The ability to reach Macy's customers via the additional channel of macys.com will enable us to cater to even more moms-to-be, on an omnichannel basis, and provide them with immediate access at any time to a compelling and unparalleled assortment of maternity and nursing wear."
Jeff Kantor, Chairman, macys.com, stated, "We have made significant investments and progress to ensure our in-store and online experiences complement each other. We look forward to continuing this momentum for the key categories of maternity and nursing apparel through our partnership with Destination Maternity Corporation. Our customers shop with us for many important occasions throughout their lives and we are excited to make shopping for clothing during this most special time even more seamless and convenient."
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 September 30, 2013, Destination Maternity operates 1,907 retail locations, including 596 stores, predominantly under the tradenames Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity®, and 1,311 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 Kohl's® stores throughout the United States and on Kohls.com. In addition, Destination Maternity has store franchise and product supply relationships in the Middle East, South Korea and Mexico. As of September 30, 2013, Destination Maternity has 143 international franchised locations, including 123 shop-in-shop locations and 20 Destination Maternity branded stores.
Macy's, the largest retail brand of Macy's, Inc. (NYSE: M), delivers fashion and affordable luxury to customers at approximately 800 locations in 45 states, the District of Columbia, Puerto Rico and Guam, as well as to customers in the U.S. and more than 100 international destinations through its leading online store at macys.com. Via its stores, e-commerce site, mobile and social platforms, Macy's offers distinctive assortments including the most desired family of exclusive and fashion brands for him, her and home. Macy's is known for such epic events as Macy's 4th of July Fireworks® and the Macy's Thanksgiving Day Parade®, as well as spectacular fashion shows, culinary events, flower shows and celebrity appearances. Macy's flagship stores -- including Herald Square in New York City, Union Square in San Francisco, State Street in Chicago, Dadeland in Miami and South Coast Plaza in southern California -- are known internationally and leading destinations for visitors. Building on a more than 150-year tradition, and with the collective support of customers, employees and Macy's Foundation, Macy's helps strengthen communities by supporting local and national charities giving more than $70 million each year to help make a difference in the lives of our customers.
Destination Maternity Corporation (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 the expansion of the Company's leased and licensed relationships, other results of operations, liquidity and financial condition, 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, our ability to generate sufficient free cash flow to continue our regular quarterly cash dividend, the trading liquidity of our common stock, changes in market interest rates, our ability to successfully manage and accomplish our planned relocation of our headquarters and distribution center facilities with minimal disruption to our overall operations, 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