Maidenform to cut jobs; lowers '08 outlook

• Posted by Salvatore Volare February 21, 2012 - Filed in 2011 Fashion Trends - 296 views
  Jan 15 (Reuters) - Underwear maker Maidenform Brands Inc (MFB.N) said it would cut about 9 percent of its workforce and forecast lower-than-expected 2008 results, hurt by global economic slowdown and costs associated with restructuring.
  

  www.maidenform.com

  
  The company, whose brands include Maidenform, Flexees and Lilyette, said it will take charges of 3 cents share related to job cuts in the fourth-quarter.

  The company now expects adjusted earnings of $1.05 to $1.07 per share, compared with its prior expectations of $1.17 to $1.21.

  Net sales are expected to fall 2 percent to $413 million from a year ago.

  Analysts were expecting earning of $1.15 per share, excluding items, on revenue of $415.4 million according to Reuters Estimates.

  Shares of company went down 44 cents to $9 in trading after the bell Thursday. (Reporting by Poojya Trivedi in Bangalore; Editing by Anil D'Silva)