Home / Knowledge / News / Apparel/Garments / Number of improvements in CHRS Spring assortments
Number of improvements in CHRS Spring assortments
Mar '10
Charming Shoppes, Inc a leading multi-brand apparel retailer specializing in women's plus-size apparel reported sales and operating results for the three and twelve month periods ended January 30, 2010.

Commenting on the results for the quarter, Jim Fogarty, President and Chief Executive Officer of Charming Shoppes, Inc. said, "Over the last year, we have had two primary objectives - first, to strengthen the capital base and liquidity profile of the Company - goal accomplished; at year end, debt, net of cash, was $33 million and liquidity was $328 million, all while buying back $85 million of our convertible notes. Second - to stabilize and begin to grow our business - on that we are a work in process. Although we continued to improve adjusted EBITDA - with an increase of $5 million for the quarter and $21 million for the year - our same store sales comp only improved marginally from (13)% in the third quarter to (12)% in the fourth quarter.

"Considering lead times to adjust apparel assortments, our results in the fourth quarter showed only modest improvement and reflected very similar assortment issues to those we referenced in the third quarter - a lack of focus on our customer and a failure to provide her with a strong, focused core tops and bottoms assortment.

"During the third quarter, we reassessed our direction for Lane Bryant's assortments, and during the fourth quarter, we reassessed our direction for Fashion Bug. We took to heart insights from our studies and we also shifted our Charming Shoppes culture from one of 'defense only' to a combination of 'defense and offense'. As a result of our work at Lane Bryant during the third quarter, we have made a number of improvements in our Spring assortments, including Lane Bryant's recent launches of core tops and bottoms programs, such as Supima(R) Cotton knit tops, casual woven shirts, capris (alternate length pants), and new assortments in swimwear and footwear. As a result of our work at Fashion Bug, we are addressing both our assortment and real estate strategy.

"Our first quarter 2010 to-date same store sales comp through eight weeks was approximately (4)%, which while still negative, reflects improvement across all of our brands from our fourth quarter comps and progress in our Spring assortments. Further, our internet business was up 35% in that same time period, benefiting from the August launch of our new web sites and the February launch of our universal shopping cart linking our four apparel web sites.

"We remain focused on our five key priorities: (1) Focus on the Customer; (2) Stabilize and Begin to Grow Profitable Revenue; (3) Increase EBITDA; (4) Increase Cash Flow, and; (5) Employee Empowerment with Accountability."

Click here for more details.

Charming Shoppes Inc

Must ReadView All

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Courtesy: Global Denim Awards

Fashion | On 27th Oct 2016

Anbasja Blanken & Italian mill ITV Denim win GDA

Dutch designer Anbasja Blanken and Italian mill ITV Denim was the...

Interviews View All

Karan Toshniwal
Orange O Tec

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

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search