Charming Shoppes Q1 profit rises 7%

17 May '06

3 min read

For the second quarter ending July 29th 2006, the company projects diluted earnings per share in the range of $0.24 - $0.25. This projection assumes total sales in a range of $760 to $765 million and a consolidated comparable store sales increase of low single digits for the company's retail stores segment.

For the corresponding period ended July 30th 2005, which included record net income for the second quarter, diluted earnings per share was $0.30.

As announced on December 8th 2005, the company plans to open approx. 75 Lane Bryant Outlet stores during July and August 2006. The agreement to assume the leases on these store locations was effective April 1st 2006.

For the second half ending February 3rd 2007, the company projects diluted earnings per share in the range of $0.33 - $0.34. This includes projections for diluted earnings per share of approx. $0.13 for the third quarter ending October 28th 2006 and approx. $0.20 for the fourth quarter ending February 3rd 2007.

For the corresponding periods ended October 29th 2005 and January 28th 2006, diluted earnings per share were $0.09 and $0.15, respectively.

Charming Shoppes Inc operates 2,241 retail stores in 48 states under the names Lane Bryant, Fashion Bug, Fashion Bug Plus, and Catherines Plus Size.

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