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

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X