Destination Maternity Announces Promotion Of Ron Masciantonio To
Executive Vice President, Chief Administrative Officer &
General Counsel
PHILADELPHIA, Nov. 19, 2012 /PRNewswire/ -- Destination
Maternity Corporation (Nasdaq: DEST), the world's leading maternity
apparel retailer, today announced that Ronald J. Masciantonio, the Company's current
Executive Vice President & General Counsel, has been promoted
to the additional position of Chief Administrative Officer.
Mr. Masciantonio will continue to report directly to Ed Krell, the Company's Chief Executive
Officer.
Mr. Masciantonio has served as the Company's Executive Vice
President & General Counsel since November 2011, having previously served as Senior
Vice President & General Counsel from April 2010 to November
2011, and Vice President & General Counsel from
August 2006 to April 2010. In
August 2006, Mr. Masciantonio
rejoined the Company, after having previously served as Assistant
General Counsel from February 2004 to
May 2005. From May 2005 to
August 2006, Mr. Masciantonio was
Assistant General Counsel, North
America for Taylor Nelson Sofres, N.A., a market research
company with global headquarters in London, England. Prior to originally
joining the Company, Mr. Masciantonio was an Associate at the law
firm of Pepper Hamilton, LLP in Philadelphia, PA. Mr. Masciantonio
received his JD degree from Temple
University School of Law in Philadelphia, PA, and his undergraduate degree
in English Literature from Holy Family University in Philadelphia, PA.
Ed Krell, Chief Executive Officer
of Destination Maternity, noted, "We are very pleased to announce
Ron's promotion to Executive Vice President, Chief Administrative
Officer & General Counsel. Since rejoining us in
August 2006 as our General Counsel,
Ron has taken on increasing responsibility, including direct
management of our Human Resources department, and has participated
actively in our strategic and operational initiatives. He is
a key member of our executive team whose contributions span a wide
range of operational areas of the Company. Ron has a keen
understanding of our business and has stepped up to his increased
responsibilities in an impressive fashion. We look forward to
Ron's continuing contributions to the Company and congratulate him
on his promotion."
Destination Maternity Corporation is the world's largest
designer and retailer of maternity apparel. In the United States and Canada, as of September
30, 2012, Destination Maternity operates 2,008 retail
locations, including 625 stores, predominantly under the tradenames
Motherhood Maternity®, A Pea in the Pod®, and Destination
Maternity®, and 1,383 leased department locations, 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 over
1,100 Kohl's® stores throughout the
United States and on Kohls.com. In addition,
Destination Maternity is expanding internationally and has
exclusive store franchise and product supply relationships in
India, the Middle East and South Korea. As of
September 30, 2012, Destination
Maternity has 119 international franchised locations, including 103
shop-in-shop locations and 16 Destination Maternity branded
stores.
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
changes in management and various business initiatives, 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 continuation of the
economic recovery of the retail industry in general and of apparel
purchases in particular, our ability to successfully manage our
various business initiatives, the success of our international
business and its expansion, our ability to successfully manage and
retain our leased department and licensed relationships and
marketing partnerships, future sales trends in our existing retail
locations and through the Internet, unusual weather patterns,
changes in consumer spending patterns, raw material price
increases, overall economic conditions and other factors affecting
consumer confidence, demographics and other macroeconomic factors
that may impact the level of spending for maternity apparel,
expense savings initiatives, our ability to anticipate and respond
to fashion trends and consumer preferences, unanticipated
fluctuations in our operating results, 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, our
ability to hire and develop senior management and sales associates,
our ability to develop and source merchandise, our ability to
receive production from foreign sources on a timely basis,
potential stock repurchases, the continuation of the regular
quarterly cash dividend, the trading liquidity of our common stock,
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