Interviews
News Flash
Charming Shoppes Q1 profit rises 7%
17 May '06
3 min read
Women's plus-size apparel retailer Charming Shoppes Inc reported sales and record earnings for the first quarter ended April 29th 2006.
The company's reported results for the three month period ended April 29th 2006 include sales and earnings from Crosstown Traders Inc.
For the three months ended April 29th 2006, net income increased 7 percent to a record $32.1 million or $0.24 per diluted share. For the corresponding period ended April 30th 2005, net income was $30.0 million or $0.23 per diluted share. The increase in net income is primarily attributable to increases in gross margin for the company's retail stores segment.
Net sales for the three months ended April 29th 2006 increased 22 percent to $734.9 million, compared to sales of $603.4 million for the three months ended April 30th 2005. Net sales for the company's direct-to-consumer segment were $107.4 million.
Net sales for the company's retail stores segment increased 4 percent to $627.5 million. Consolidated comparable store sales for the company's retail store brands increased 1 percent during the three months ended April 29th 2006.
Comparable store sales by retail store brand for the thirteen weeks ended April 29th 2006, were:
-- Lane Bryant Stores - 2 percent
-- Fashion Bug Stores - 1 percent
-- Catherines Stores - 5 percent
-- Total Retail Store Brands - 1 percent
Dorrit Bern, Chairman, CEO and President of Charming Shoppes Inc, said, "We are pleased to report sales and earnings increases for our first quarter, over a very strong first quarter last year. Comparable store sales increases and improvement in our gross margins at our Catherines and Lane Bryant brands contributed to an overall increase in gross margin at our retail stores segment."
The company's reported results for the three month period ended April 29th 2006 include sales and earnings from Crosstown Traders Inc.
For the three months ended April 29th 2006, net income increased 7 percent to a record $32.1 million or $0.24 per diluted share. For the corresponding period ended April 30th 2005, net income was $30.0 million or $0.23 per diluted share. The increase in net income is primarily attributable to increases in gross margin for the company's retail stores segment.
Net sales for the three months ended April 29th 2006 increased 22 percent to $734.9 million, compared to sales of $603.4 million for the three months ended April 30th 2005. Net sales for the company's direct-to-consumer segment were $107.4 million.
Net sales for the company's retail stores segment increased 4 percent to $627.5 million. Consolidated comparable store sales for the company's retail store brands increased 1 percent during the three months ended April 29th 2006.
Comparable store sales by retail store brand for the thirteen weeks ended April 29th 2006, were:
-- Lane Bryant Stores - 2 percent
-- Fashion Bug Stores - 1 percent
-- Catherines Stores - 5 percent
-- Total Retail Store Brands - 1 percent
Dorrit Bern, Chairman, CEO and President of Charming Shoppes Inc, said, "We are pleased to report sales and earnings increases for our first quarter, over a very strong first quarter last year. Comparable store sales increases and improvement in our gross margins at our Catherines and Lane Bryant brands contributed to an overall increase in gross margin at our retail stores segment."
Charming Shoppes Inc
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
