PHILADELPHIA, Nov. 19 /PRNewswire-FirstCall/ -- Destination Maternity Corporation (NASDAQ: DEST), the world's leading maternity apparel retailer, is excited to announce the opening of Motherhood Maternity® in the Al Bairaq Mall in Fintas, Kuwait. Motherhood's trendy, affordable maternity fashions are now available for the first time in the region. Al Bairaq Mall is the first mall in this residential, family-oriented neighborhood to offer international brands, and the Motherhood brand joins stores such as H&M®, Guess? ®, and Bodyshop®.
This is the second store Destination Maternity Corporation has opened in Kuwait through its franchisee, Multi Trend, a member of the Al-Homaizi Group. Destination Maternity Corporation and Multi Trend opened an A Pea in the Pod® store in July 2009 in the 360 Mall in South Surra. The high-end A Pea in the Pod maternity store joins stores such as Gucci®, Dolce & Gabbana®, Burberry®, and Yves Saint Laurent® in the ground-breaking luxury shopping mall.
Under a multi-year franchise agreement, Destination Maternity Corporation has partnered with Multi Trend to operate branded retail locations and market merchandise under the Company's Destination Maternity®, Motherhood Maternity, A Pea in the Pod, and Edamame The Maternity Spa® brands in six key markets in the Middle East: the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman.
About Destination Maternity Corporation
Destination Maternity Corporation is the world's largest designer and retailer of maternity apparel, using its quick response replenishment system to "give the customer what she wants, when she wants it." In the United States and Canada, Destination Maternity operates, as of October 31, 2009, 1,698 retail locations, including 722 stores, predominantly under the tradenames Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity®, and sells on the web through its DestinationMaternity.com and brand-specific websites. Destination Maternity also distributes its Oh Baby by Motherhood® collection through a licensed arrangement at Kohl's® stores throughout the United States and on Kohls.com, and, in October 2009, re-launched its Two Hearts Maternity® by Destination Maternity collection in Sears® stores and certain Kmart® stores through a leased department relationship with Sears. In addition, Destination Maternity is expanding internationally and has entered into exclusive store franchise and product supply relationships in India and the Middle East.
About Multi Trend and the Al Homaizi Group
Multi Trend, a member of the Al Homaizi Group, is a franchisee in the Middle East for numerous leading lifestyle brands including Custo Barcelona, a Spanish brand of fashion clothing and accessories; Joe Bloggs, a British brand for street-wear clothes; Go Sport, a French sporting goods retailer; and Cath Kidston, a British brand for home accessories. In addition, with operations in the Middle East, Egypt, and the United Kingdom, the Al Homaizi Group is a diversified entity with business interests in retail enterprises including franchisee operations across the following sectors: casual and fine dining (including Burger King, Pizza Hut and Applebee's franchises), food and beverages (including Al Rifai, Scoop a Cone and Boost Juice franchises), and home and office furnishings (through an IKEA franchise).
The Company cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made from time to time by management of the Company, including those regarding international expansion, 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: the impact of the current global economic slowdown on the retail industry in general and on apparel purchases in particular, our ability to successfully manage our various business initiatives, our ability to successfully implement our merchandise brand and retail nameplate restructuring, the success of our international expansion, our ability to successfully manage and retain our leased department and licensed relationships and marketing partnerships, future sales trends in our existing store base, unusual weather patterns, changes in consumer preferences and spending patterns, demographics and other macroeconomic factors that may impact the level of spending for maternity apparel, overall economic conditions and other factors affecting consumer confidence, expense savings initiatives, the impact of competition and fluctuations in the price, availability and quality of raw materials and contracted products, availability of suitable store locations, continued availability of capital and financing, goodwill impairment charges, 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 prepayments, changes in market interest rates, 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.
SOURCE: Destination Maternity Corporation
Web site: http://www.destinationmaternity.com/