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News Flash
Charming Shoppes sees weak Q2
22 May '08
3 min read
Net sales from continuing operations exclude sales related to the Company's non- core misses catalogs, operating results of which are accounted for in the "loss from operations of discontinued component" section of the Company's accompanying Statement of Operations.
• Net sales for the Company's Retail Stores segment were $614.9 million during the thirteen weeks ended May 3, 2008, a decrease of 10% compared to $686.7 million during the thirteen weeks ended May 5, 2007. Consolidated comparable store sales for the Company's Retail Stores segment decreased 13% during the thirteen weeks ended May 3, 2008, compared to flat comparable store sales during the thirteen weeks ended May 5, 2007.
• Net sales from continuing operations for the Company's Direct-to-Consumer segment were $26.9 million during the thirteen weeks ended May 3, 2008, compared to $10.3 million during the thirteen weeks ended May 5, 2007.
Commenting on sales and operating results for the quarter, Dorrit J. Bern, Chairman, Chief Executive Officer and President of Charming Shoppes, Inc. stated, "We continue to be disappointed with our overall sales performance, which has been impacted by downward traffic trends to our stores. As we manage through this challenging environment, it has been our strategy to operate with much leaner inventories in order to protect and improve our merchandise margins.
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• Net sales for the Company's Retail Stores segment were $614.9 million during the thirteen weeks ended May 3, 2008, a decrease of 10% compared to $686.7 million during the thirteen weeks ended May 5, 2007. Consolidated comparable store sales for the Company's Retail Stores segment decreased 13% during the thirteen weeks ended May 3, 2008, compared to flat comparable store sales during the thirteen weeks ended May 5, 2007.
• Net sales from continuing operations for the Company's Direct-to-Consumer segment were $26.9 million during the thirteen weeks ended May 3, 2008, compared to $10.3 million during the thirteen weeks ended May 5, 2007.
Commenting on sales and operating results for the quarter, Dorrit J. Bern, Chairman, Chief Executive Officer and President of Charming Shoppes, Inc. stated, "We continue to be disappointed with our overall sales performance, which has been impacted by downward traffic trends to our stores. As we manage through this challenging environment, it has been our strategy to operate with much leaner inventories in order to protect and improve our merchandise margins.
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Charming Shoppes Inc
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