Home / Knowledge / News / Apparel/Garments / Charlotte Russe announces outlook for Q3 of fiscal 2008
Charlotte Russe announces outlook for Q3 of fiscal 2008
26
Mar '08
Charlotte Russe Holding Inc, a growing mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties, supplemented the Company's previous earnings guidance for the second quarter ending March 29, 2008 and provided the Company's current outlook for the third quarter ending June 28, 2008.

Income Tax Adjustment:
A favorable tax adjustment of approximately $830,000 will be recorded in the second quarter of fiscal 2008 resulting in a $0.03 benefit to diluted earnings per share. In addition, the Company is reducing the estimated effective income tax rate for fiscal 2008 from 39.4% to 38.3%.

The second quarter tax adjustment includes a reversal of a prior year tax accrual of approximately $580,000. The remaining adjustment reflects the impact of a lower effective tax rate in the first quarter of fiscal 2008. Beginning with the second quarter, the Company will accrue income tax expense at the revised rate of 38.3%.

The reduction in the estimated effective income tax rate is primarily driven by a revised blended state tax rate.

Second Quarter Earnings Guidance:
Based on business trends to-date, and excluding the tax adjustment described above, the Company re-affirms its previous sales and earnings guidance range of $0.12 to $0.15 diluted earnings per share for the second quarter ending March 29, 2008. Taking into account the $0.03 impact of the tax adjustment described above, the Company now anticipates diluted earnings per share in the range of $0.15 to $0.18 for the second quarter ending March 29, 2008.

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search