Nov 5, 2008
Maidenform Q3 beats Street, cuts 2008 forecast
Nov 5, 2008
* Q3 EPS, rev beats estimates
* Cuts 2008 EPS forecast
* Cuts upper end of 2008 rev view
Nov 5 (Reuters) - Underwear maker Maidenform Brands posted better-than-expected third-quarter results on higher sales across most of its distribution channels, but cut its 2008 outlook.
The company posted sales increases of 11 percent in its department and national chain stores channel and 39 percent in its mass merchants channel. Sales in the wholesale segment increased 15 percent while in the retail segment it was flat.
Maidenform Brands, whose brands include Maidenform, Flexees and Lilyette, cut its 2008 earnings per share forecast to $1.17 to $1.21 from its prior outlook of $1.22 to $1.30.
The company expects 2008 net sales to be flat to a fall of 1 percent. It previously forecast net sales to rise 1 percent to fall 1 percent.
Shares of the Iselin, New Jersey-based company closed at $10.58 Tuesday on the New York Stock Exchange.
For the press release, please click . For the alerts, please click . (Reporting by Anne Pallivathuckal in Bangalore; Editing by Jarshad Kakkrakandy)
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