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Charlotte Russe announces outlook for Q3 of fiscal 2008
26 Mar '08
3 min read
Third Quarter Outlook:
Mark Hoffman, Chief Executive Officer, commented: "We expect earnings to be in line with our guidance for the second quarter. However, as we stated previously, we anticipate the third quarter will be impacted by the shift of the Easter holiday and spring break periods.
In addition, in order to give investors further insight into the third quarter which begins on March 30, 2008, we took into consideration the declining transaction levels and lower consumer spending we have experienced over the last seven weeks.
While the Easter holiday shift drove a positive comp for the third week of March, we were disappointed with our sales performance for the holiday period. Based on our recent sales trends coupled with the current challenges in the retail environment, we are guiding to a flat to low single digit negative comparable store sales decline and diluted earnings per share in the range of $0.27 to $0.30 for the third quarter ending June 28, 2008.
We will provide a further update on our third quarter sales and earnings outlook on our second quarter earnings release conference call scheduled for April 23, 2008."
Mark Hoffman, Chief Executive Officer, commented: "We expect earnings to be in line with our guidance for the second quarter. However, as we stated previously, we anticipate the third quarter will be impacted by the shift of the Easter holiday and spring break periods.
In addition, in order to give investors further insight into the third quarter which begins on March 30, 2008, we took into consideration the declining transaction levels and lower consumer spending we have experienced over the last seven weeks.
While the Easter holiday shift drove a positive comp for the third week of March, we were disappointed with our sales performance for the holiday period. Based on our recent sales trends coupled with the current challenges in the retail environment, we are guiding to a flat to low single digit negative comparable store sales decline and diluted earnings per share in the range of $0.27 to $0.30 for the third quarter ending June 28, 2008.
We will provide a further update on our third quarter sales and earnings outlook on our second quarter earnings release conference call scheduled for April 23, 2008."
Charlotte Russe Holding Inc
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