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Pure Genius tailored bra, style #7539.
Pure Genius tailored bra, style #7539.

Added: Feb 2011

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current news

Litigation Affects Maidenform 2q Income

(Filed Under Financial and General Interest News). Maidenform Brands Inc. reported a 15 percent drop in net income for the second quarter of 2011 after it settled a patent dispute for $6.8 million.

The litigation charge — only $4.1 million excluding taxes — involved invalidity and patent infringement lawsuits with Times Three Clothier, the company behind Yummie Tummie shapewear. Maidenform’s net income dropped to $11.6 million, or 50 cents a share, from $13.7 million, or 59 cents a share, in the prior year’s period.

Shapewear sales, which rose 33.2 percent, helped net sales rise 13.8 percent to $170 million, up from $149.4 million. Retail sales grew 11.7 percent to $16.2 million, while online sales came in at $1.8 million, up 50 percent from the comparable period in 2010. Net sales for department stores and national chain stores increased 9.8 percent to $69.7 million. Maidenform was also boosted by a 39.2 percent increase in international sales.

"The team continues to execute our long-range organic growth strategies with solid success," said Maurice S. Reznik, chief executive officer of Maidenform Brands.

Maidenform Brands designs, sources and markets intimate apparel and shapewear under brands including Flexees, Lilyette and Sweet Nothings in 64 countries and territories around the world.

more Financial and General Interest News >>

Published 08-10-2011 by Katherine Rautenberg

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