Shares in Philadelphia-based Destination Maternity Corp. fell 19.6 percent Tuesday on news that the apparel retailer had notched lower-than-expected sales during the quarter ended June 30.
Net sales of $138.8 million were below the low end of sales guidance of $142 million to $147 million issued on April 26. The same quarter a year earlier, sales were $146.7 million.
The company issued new earnings guidance of 51 cents to 53 cents per share for the quarter, down from 57 cents to 70 cents forecast in April.
