Why Did Destination Maternity Plummet On Tuesday?

Destination Maternity Corp DEST shares plummeted 14 percent on Tuesday following the announcement of its fourth quarter financial results.

Before the market open, Destination announced it has suspended its quarterly dividend. Quarterly earnings per share notched a loss of 11 cents, while revenues of $118.3 million fell below the same mark a year ago near $121 million.

Destination Maternity shares are trading down by 41.62 percent year to date, while the stock is up slightly this month. After Tuesday's loss, the stock is below its 20, 50 and 200-day moving averages.