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April 24, 2014
06:39 EDTDESTDestination Maternity reports Q2 adjusted EPS 26c, one estimate 26c
Reports Q2 revenue $126.1M, one estimate $126.1M. Reports Q2 SSS down 5.1%. The decrease in sales for Q2 compared to FY13 resulted primarily from a decrease in SSS and decreased sales related to the company's continued efforts to close underperforming stores.
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February 8, 2016
08:55 EDTDESTOrchestra-Premaman offers to up cash component of Destination Maternity bid
Orchestra-Premaman disclosed that it sent a letter to Destination Maternity's board reaffirming its proposal to acquire 100% of the capital stock of the company and addressing certain points that the company made in its December 14 press release rejecting Orchestra-Premaman's proposal. In addition, Orchestra-Premaman indicated that it is prepared to increase the cash component of its offer by 50%, to $37.5M, which would translate into $2.6664 in cash and 0.0596 shares of Orchestra-Premaman common stock for each share of Destination. The letter stated in part, "We are very disappointed that you rejected our proposal on December 14, 2015, and have consistently stalled and repeatedly resisted our efforts to commence a constructive dialogue regarding our proposal. By doing so, we believe you are depriving the stockholders of Destination Maternity of a significant opportunity, as we believe that combining our two companies - and thereby alleviating the geographic and category limitations that currently impact the Company's value and potential -will provide your stockholders with more upside and less risk than the status quo. We have endeavoured to pursue our proposal privately, but your unwillingness to engage with us has left us with no option but to act publicly." Orchestra-Premaman owns 13.9% of Destination Maternity's outstanding shares.

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