Home / Knowledge / News / Apparel/Garments / Number of improvements in CHRS Spring assortments
Number of improvements in CHRS Spring assortments
31
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 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Courtesy: ShopKeep

Information Technology | On 30th Mar 2017

Shopkeep partners with software provider BigCommerce

ShopKeep, the cloud-based technology solution that transforms an iPad ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
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...

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
March 2017

March 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