(Filed Under Financial and General Interest News). Driven by strength in the wholesale segment, on Thursday Maidenform Brands Inc. cited an 8.6 percent net sales increase during the fourth quarter of 2010: to $118.6 million. Full year net sales were $556.7 million, a 19.4 percent increase.
During the quarter, wholesale net sales jumped 10 percent, to $105.2 million, with department and national chain store sales up 14.2 percent due to solid performance across shapewear and bra businesses, Maidenform said. The company added that shapewear was strong in the mass merchant channel, where sales jumped 26.6 percent. In the other channel, sales decreased by 11.2 percent, which the company attributed to lower sales to a specialty retailer. This was partially offset by strong off-price sales. International sales, which are included in the wholesale segment, increased 12.6.
Retail net sales during the quarter decreased by 1.5 percent, to $13.4 million, and same-store sales were down 2.5 percent. Internet sales were flat at $1.2 million. The retail segment operated 73 outlet stores and eight shapewear kiosks and carts at the end of the fourth quarter of 2010, compared to 73 outlet stores and one kiosk at the end of the fourth quarter of 2009.
During the year, net sales increased 19.4 percent, to $556.7 million. Wholesale segment sales increased 21.9 percent, and retail sales increased 1.1 percent.
For the first quarter of this year, Maidenform expects total net sales to increase by 8 to 11 percent.
Maidenform Brands produces bras, panties and shapewear under Maidenform, Control It!, Fat Free Dressing, Flexees, Sweet Nothings and other labels.
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