After disappointing Q1, Destination Maternity announces leadership changes

For its first quarter, Destination Maternity Corporation said net income was 0.1 million dollars or 1 cent per diluted share compared to 0.2 million dollars or 2 cent per diluted share for the first quarter of fiscal 2018. Net sales decreased 8.7 percent to 94.2 million dollars, while comparable sales decreased 7.2 percent from the first quarter of fiscal 2018. Meanwhile, the company has also announced that Marla Ryan is stepping down as chief executive officer but will assume a new role as President of product design, sourcing and merchandising. For FY19, the company expects annual adjusted EBITDA guidance to be in the 13 million dollars to 17 million dollars range.