Destination Maternity earnings up in Q3

Destination Maternity said Wednesday it earned $8.5 million in its fiscal third quarter, exceeding projections. The profit compared with year-earlier earnings for the quarter of $6.8 million.CEO Ed Krell said cost cutting and the availability of its products in new areas are garnering results.“Our improved earnings performance is driven primarily by the expense savings from our cost-reduction initiatives and our strong merchandise gross margin performance, as well as from the growth in sales of our leased department relationships and increased Internet and international sales,” he said.Revenue in the period, however, was $142 million, down 0.3% from $142.5 million a