(Filed Under Financial and General Interest News). Maidenform Brands, Inc. reported 2010 second quarter net income of $13,659,000 on sales of $149,401,000 compared to income of $7,278,000 on sales of $114,205,000 for the same quarter last year. This 31 percent increase was “driven by continued strength in its core shapewear and bra businesses across the company’s wholesale channels,” according to a company statement that accompanied the release of results. Shapewear net sales increased 44 percent, bra net sales increased 31.6 percent, department stores and national chain stores channel net sales increased 17.5 percent and mass merchant channel net sales increased 61.3 percent, the statement declared.
Wholesale segment net sales in the second quarter of 2010 increased $35.2 million, or 35.3 percent, to $134.9 million. Retail segment net sales were unchanged at $14.5 million.
Total international net sales, which are included in the wholesale segment, increased $3.3 million, or 38.8 percent, to $11.8 million. This increase was driven by increased sales in most international markets, notably Mexico, the United Kingdom and Spain, according to the company.
Maidenform operates 74 outlet stores and one “shapewear kiosk” and its total retail segment net sales were unchanged at $14.5 million in the second quarter of 2010 with same store sales, defined as stores that have been open for more than one year, increasing 0.8 percent. Internet sales were unchanged at $1.2 million in the second quarter of 2010.
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