Mothers Work Inc lowers fiscal year outlook
Maternity apparel retailer Mothers Work Inc. (Nasdaq: MWRK) announced this morning that it is lowering its fiscal 2007 adjusted profit outlook based on reduced sales and gross margin expectations.
For fiscal year 2007, which ends Sept. 30, the Philadelphia, P.A.-based company said it expects net income of between $0.56 and $0.81 per share. Adjusted earnings are estimated to be in the range of $1.49 to $1.74 per share, down from a prior forecast for adjusted net income of between $2.32 and $2.85 per share.
Full-year revenue is expected between $584 million and $589 million on a same-store sales decline between 3.5% and 4.5%, partially offset by anticipated increased sales from marketing partnerships and leased department and licensed relationships.
Three analysts polled by Thomson Financial expect earnings per share of $1.73 for the fiscal 2007 year on revenues of $584.2 million.
Shares of Mothers Work edged down 0.49%, or $0.12, to $25.38 in pre-market trading.
