(Filed Under Financial and General Interest News). During the first quarter of 2010, Maidenform Brands, Inc. reported an increase in net sales of 25.1 percent, to $142.9 million, with shapewear and bra sales up 48.5 percent and 21 percent, respectively.
Wholesale segment sales increased $25.1 percent, to $142.9 million, with the department stores and national chain stores channel up 32.3 percent, mass merchants up 14.9 percent and the other channel sales up 41 percent. International sales, which are included in the wholesale segment, increased 48.6 percent, driven by growth in Russia, Germany and Spain, as well as favorable currency exchanges.
Retail segment sales increased 3.7 percent, to $11.3 million. Same store sales increased 6.3 percent at Maidenform’s retail outlet stores. The retail segment operated 75 outlet stores at the end of the first quarter of this year, compared with 77 outlet stores at the end of last year’s first quarter.
The company expects net sales during the second quarter to increase in the low-to-mid 20 percent range.
Maidenform’s brands include Maidenform; Control It!; Fat Free Dressing; Flexees; Lilyette; Luleh; Rendezvous; Subtract; Bodymates; Inspirations; Self Expressions; and Sweet Nothings. Products are currently distributed in approximately 60 countries and territories outside of the United States.
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