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Web sales soar 50% for Maidenform in Q2
The underwear manufacturer’s net sales also took a big jump.
Associate Director of Research
E-commerce sales at intimate apparel maker and retailer Maidenform Brands Inc. took a major leap in the second quarter.
For the three months ending July 2, 2011, Maidenform, No. 700 in Internet Retailer’s Second 500 Guide, reported:
- Internet sales increased 50.0% to $1.8 million from $1.2 million in the second quarter of last year.
- Net sales jumped 13.8% to $170.0 million, compared with $149.4 million in the same quarter of 2010
- Total retail segment sales, of which internet sales are a portion, increased 11.7% to $16.2 million from $14.5 million in Q2 2010.
- Wholesale segment sales increased 14.0% to $153.8 million, compared with $134.9 million last year.
Internet Retailer calculates that the web comprised 1.1% of total sales in Q2, compared with 0.8% in the second quarter of last year, and 11.1% of retail sales, compared with 8.3% in Q2 of 2010.
"We delivered another strong quarter of sales, market share and profit growth by leveraging the Maidenform brand and our innovative products across channels, product categories and geographies,” says CEO Maurice Reznik. “The team continues to execute our long-range organic growth strategies with solid success.”
For the six months ending July 2, 2011, the retailer also reported:
- Internet sales jumped to $3.3 million, up 37.5% from $2.4 million in the first half of last year.
- Net sales increased 14.1% to $333.6 million from $292.3 million in the first two quarters of 2010.
- Total retail sales, including internet sales, increased 7.8% to $27.8 million from $25.8 million in the same period last year.
- Wholesale segment sales increased 14.7% to $305.8 million from $266.5 million in the first half of 2010.
Internet Retailer calculates that the web comprised 1.0% of total sales in first half of 2011, compared with 0.8% last year, and 11.9% of retail sales, compared with 9.3% last year.