PHILADELPHIA, March 16, 2011 /PRNewswire/ -- Destination Maternity Corporation (Nasdaq: DEST), the world's leading maternity apparel retailer, announced today the opening of the tenth Destination Maternity® store in the Middle East.
Located in Discovery Center on Al Sour Street next to Fountain Park Sharq – opposite Jassem Tower Murqab area in Kuwait, Destination Maternity is the home of the world's leading maternity brands Motherhood Maternity® and A Pea in the Pod®. It is a one-stop shop for the most extraordinary selection of maternity fashion, accessories, and everything imaginable for the pregnant woman. This is the fourth Destination Maternity store opened in Kuwait, and the tenth opened in the Middle East through Destination Maternity's franchisee, Multi Trend, a member of the Al Homaizi Group. Multi Trend has also opened two Destination Maternity stores in the United Arab Emirates as well as four Destination Maternity stores in Saudi Arabia.
Under a multi-year franchise agreement, Destination Maternity has partnered with Multi Trend to operate branded retail locations and market merchandise under the Company's Destination Maternity, Motherhood Maternity, A Pea in the Pod, and Edamame The Maternity Spa® brands in six key markets in the Middle East: Kuwait, the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, and Oman.
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 February 28, 2011, Destination Maternity operates 2,380 retail locations, including 678 stores, predominantly under the tradenames Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity®, 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 is expanding internationally and has exclusive store franchise and product supply relationships in India and the Middle East.
About Multi Trend and the Al Homaizi Group
Launched in 2005, Multi Trend International; a member of Al-Homaizi Group is the umbrella company for a select portfolio of lifestyle brands. It has the drive, competent retail experience, and leadership to develop market niches. Its goal is to expand in Kuwait and the Gulf region with a growing range of brands including Go Sport, Courir, Destination Maternity, Custo Barcelona, Joe's Jeans and Franklin Marshall.
Multi Trend stores can currently be found in Kuwait, KSA and UAE. It employs more than 170 employees from over 17 nationalities.
Learn more about the company at www.multitrend.com.kw.
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 international expansion 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 expansion, our ability to successfully manage and retain our leased department and licensed relationships and marketing partnerships, future sales trends in our existing store base 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, potential debt prepayments, the continuation of the regular quarterly cash dividend, the trading liquidity of our common stock, changes in market interest rates, 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