Exhibit 99.1

For Immediate Release

DESTINATION MATERNITY REPORTS Q4 EARNINGS

HIGHER THAN PRIOR GUIDANCE AND

SIGNIFICANTLY HIGHER THAN LAST YEAR

Philadelphia, PA, November 15, 2012 – Destination Maternity Corporation (Nasdaq: DEST), the world’s leading maternity apparel retailer, today announced operating results for the fourth quarter and full year fiscal 2012, which ended September 30, 2012. The Company’s diluted earnings per share for its fourth quarter and full year fiscal 2012 were higher than the top end of its July 26, 2012 earnings guidance. On November 14, 2012 the Company announced that its Board of Directors declared a regular quarterly cash dividend of $0.175 per share payable December 28, 2012.

Fourth Quarter Fiscal 2012 Financial Results

Full Year Fiscal 2012 Financial Results

Financing and Related Activities

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Retail Locations

The table below summarizes store opening and closing activity for the fourth quarter and full year of fiscal 2012 and 2011, as well as the Company’s store, total retail location and total international franchised location count at the end of each fiscal period. The decrease in leased department locations at the end of September 2012 versus September 2011 predominantly reflects the closure of the Company’s 291 remaining leased departments within Kmart^® locations in October 2011. Kmart represented only a small portion of the overall sales generated by the Company’s leased department relationship with Sears^® and Kmart through the Company’s agreement with Sears Holdings Corporation. The Company continues to operate leased departments in Sears stores throughout the United States. As of September 30, 2012, the Company operated 515 leased department locations in Sears stores.

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In connection with the Company’s new broad-based partnership with Bed Bath & Beyond Inc. and its subsidiary, Buy Buy Baby, Inc. (which was announced in May 2012), beginning in late October 2012 the Company has begun to open leased departments in select buybuy BABY^® stores, and the Company discontinued operation of its 124 remaining leased departments in Babies“R”Us in late October 2012.

Commentary

Ed Krell, Chief Executive Officer of Destination Maternity Corporation, noted, “Fiscal 2012 was a year filled with significant challenges and achievements for Destination Maternity. While we continued to face a challenging sales environment and a continued reduction of births in the United States, we generated strong positive earnings (second in Company history only to our record earnings results of fiscal 2011) and generated significant free cash flow, while increasing our investment and talent in our key areas of focus and growth: merchandising, marketing, web and international. In addition, we continued to strengthen our partnership businesses, completing the first year of our significant nationwide expansion with Macy’s, and entering into an exciting and broad-based partnership with Bed Bath & Beyond Inc. and its subsidiary, Buy Buy Baby, Inc. We used our strong free cash flow to generate shareholder value, both through continued significant debt repayment and continuing to return funds to our stockholders via a meaningful regular quarterly cash dividend. However, we are disappointed that we did not fully achieve our sales and earnings goals for fiscal 2012, and that we generated lower earnings than our record earnings of a year ago.

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“While we are disappointed with our comparable sales decrease of 0.3% for the full year fiscal 2012, which was hurt by approximately 1 percentage point by cannibalization from our Macy’s leased department expansion, we are pleased with the strong improvement of our sales performance for the fourth quarter of fiscal 2012, which was driven by strong sales of our Fall 2012 merchandise assortments. Our fourth quarter comparable sales increased 2.7%, near the high end of our guidance range for comparable sales of between a decrease of 1% and an increase of 3%.

“Our strong fourth quarter sales performance, combined with our increased gross margin and continued tight management of expenses, enabled us to deliver very strong earnings performance for the fourth quarter. Our GAAP diluted earnings of $0.39 per share for the fourth quarter were nearly double last year’s fourth quarter earnings of $0.20 per share, and exceeded the top end of our prior earnings guidance range of $0.17 to $0.28 per share that we provided in our July 26, 2012 press release.

“Our key focus continues to be improving our sales performance through initiatives to enhance our merchandise assortments, merchandise presentation, store environment and customer experience. While we recognize the challenging macroeconomic environment, we remain focused on the things that we can control, not on external factors that we cannot control. During fiscal 2012, we made many changes to drive improvements in our merchandise assortments and the way these assortments are presented in store, and we are pleased with the improved sales trend we have seen in the Fall product selling season. We are cautiously optimistic that we will continue to see the results of our efforts in an improved sales trend during the coming year and beyond.”

Financing and Related Activities

“During fiscal 2012 we made $15.0 million in prepayments on our Term Loan and continued to return funds to our stockholders with our $0.70 per share annualized dividend rate ($0.175 per share quarterly cash dividend), after having initiated this quarterly cash dividend in the second quarter of fiscal 2011. On November 1, 2012, we entered into a new five-year $61 million revolving credit facility to replace our $55 million revolving credit facility, which was due to mature on January 13, 2013. In addition, simultaneous with entering into the new credit facility, we repaid the remaining $13.4 million principal amount of our senior secured Term Loan, which was due to mature on March 13, 2013.

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“The repayment of our Term Loan completes a dramatic decrease in our financial leverage over the past several years. Giving effect to this Term Loan repayment, over the past six years, our total debt has decreased from $118 million to $2 million, and our annual interest expense has decreased from $15 million to less than $1 million. In addition, our new credit facility provides us with continued significant financial and operating flexibility as we continue to execute on our strategic plan.”

Guidance for Fiscal 2013

“Looking forward, we are confident that we can continue to improve our sales performance and position our Company for continued future growth, by continuing to enhance our merchandise assortments, merchandise presentation, store environment and customer experience, and continuing to focus on our strategic plan as summarized in our five key goals and strategic objectives discussed later under “Company Strategy.”

“Our financial guidance for the full year fiscal 2013 is as follows:

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“Our financial guidance for the first quarter of fiscal 2013 is as follows:

Company Strategy

Mr. Krell added, “As we plan and execute our business for both this year and beyond, we continue to be guided by our five key goals and strategic objectives:

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Mr. Krell concluded, “Although we are proud of what we have accomplished in the past four years to significantly improve our Company’s profitability and financial position, even in the face of a challenging sales environment, we have not been satisfied with our sales results or our current year earnings results. While we recognize that over the past four years we have faced the dual challenges of a deep recession followed by a weak recovery, as well as a 9% decrease in annual births in the United States since 2007, we remain focused on driving improvement in our sales performance through initiatives to enhance our merchandise assortments, merchandise presentation, store environment and customer experience. We are confident in our ability to continue to manage our business through this uncertain consumer environment, to continue to improve our sales performance, and to continue to make progress towards our key corporate goals.”

Conference Call Information

As announced previously, the Company will hold a conference call today at 9:00 a.m. Eastern Time, regarding the Company’s fourth quarter and full year fiscal 2012 earnings and future financial guidance. You can participate in this conference call by calling (888) 873-4896 in the United States and Canada or (617) 213-8850 outside of the United States and Canada. Please call ten minutes prior to 9:00 a.m. Eastern Time. The conference call (listen only) will also be available on the investor section of our website at http://investor.destinationmaternity.com. The passcode for the conference call is “34655158.” In the event

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that you are unable to participate in the call, a replay will be available through Thursday, November 29, 2012 by calling (888) 286-8010 in the United States and Canada or (617) 801-6888 outside of the United States and Canada. The passcode for the replay is “76080475.”

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.

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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 earnings, net sales, comparable sales, other results of operations, liquidity and financial condition, 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.

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DESTINATION MATERNITY CORPORATION AND SUBSIDIARIES

Consolidated Statements of Income

(in thousands, except percentages and per share data)

(unaudited)

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DESTINATION MATERNITY CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

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DESTINATION MATERNITY CORPORATION AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

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DESTINATION MATERNITY CORPORATION AND SUBSIDIARIES

Supplemental Financial Information

Reconciliation of Net Income to Adjusted EBITDA⁽¹⁾

and Operating Income Margin to Adjusted EBITDA Margin

(in thousands, except percentages)

(unaudited)

Reconciliation of Net Income Per Share - Diluted

to Adjusted Net Income Per Share – Diluted,

Before Stock-Based Compensation Expense and

Loss on Extinguishment of Debt

(unaudited)

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DESTINATION MATERNITY CORPORATION AND SUBSIDIARIES

Supplemental Financial Information (Continued)

Reconciliation of Net Income Per Share - Diluted

to Adjusted Net Income Per Share – Diluted,

Before Stock-Based Compensation Expense

and Loss on Extinguishment of Debt

(unaudited)

Reconciliation of Net Income to Adjusted EBITDA

(in millions, unaudited)

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