Mothers Work Announces Increased Earnings Guidance Range for Third Quarter Ended June 30, 2006; Company Expects Earnings Per Share for Third Quarter of between $1.52 and $1.56 Per Share, Compared to Previous Guidance Range of between $1.20 and $1.34 Per Share.PHILADELPHIA, July 14 /PRNewswire-FirstCall/ -- Mothers Work, Inc. , the world's leading maternity MATERNITY. The state or condition of a mother.2. It is either legitimate or natural. The former is the condition of the mother who has given birth to legitimate children, while the latter is the condition of her who has given birth to illegitimate children. apparel retailer, today announced an increase to its earnings guidance range for the third quarter ended June 30, 2006. Based on updated information from the preliminary closing of its financial books, the Company expects to report diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for the third quarter ended June 30, 2006 of between $1.52 and $1.56 per share (after stock option expense), an increase from the Company's previous third quarter guidance for diluted earnings per share of between $1.20 and $1.34 per share (after stock option expense). As reported in its July 6, 2006 press release, the Company's net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the third quarter of 2006 of $163.9 million exceeded its previous third quarter sales guidance of $157.5 to $160.5 million, and its comparable store sales increase of 6.4% for the quarter exceeded its previous third quarter comparable store sales guidance of an increase of 2.5% to 4.5%. The Company will report results for its third quarter and hold an investor conference call on July 25, 2006, at which time it will provide additional information related to its results for the third quarter, future financial guidance and strategic business initiatives. Mothers Work is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack(TM) merchandise analysis and planning system See spreadsheet and financial planning system. as well as its quick response replenishment replenishment the addition of an appropriate quantity of properly prepared solution containing the correct concentration of chemicals to the developer solutions used in radiography. process to "give the customer what she wants, when she wants it." As of June 30, 2006, Mothers Work operates 1,540 maternity locations, including 815 stores, predominantly under the tradenames Motherhood Maternity(R), A Pea in the Pod(R), Mimi Maternity(R), and Destination Maternity(TM), and sells on the web through its DestinationMaternity.com and brand-specific websites. The Company cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995) contained in this press release or made from time to time by management of the Company, including those regarding expected results of operations and new 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: our ability to successfully manage our new initiatives, future sales trends in our existing store base, changes in consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. patterns, raw material price increases, consumer preferences and overall economic conditions, the impact of competition and pricing, availability of suitable store locations, continued availability of capital and financing, ability to hire and develop senior management and sales associates, ability to develop and source merchandise, ability to receive production from foreign sources on a timely basis, potential stock repurchases, potential debt repurchases, 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. Mothers Work press releases available through Company News On-Call at http://www.prnewswire.com/comp/581877.html CONTACT: Edward M. Krell, Executive Vice President - Chief Financial Officer of Mothers Work, +1-215-873-2220 Web site: http://www.motherswork.com/ Company News On-Call: http://www.prnewswire.com/comp/581877.html |
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