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Charming Shoppes reports net income of $32.6m in Q2

16
Aug '06

Charming Shoppes Inc, a leading multi-brand, multi-channel specialty apparel retailer specializing in women's plus-size apparel, reported sales and earnings for the second quarter ended July 29th 2006.

For the three months ended July 29th 2006, net income was $32.6 million, a 17% decrease compared to record net income of $39.4 million for the corresponding period ended July 30th 2005. This performance is consistent with the company's plans for the quarter.

Net sales for the three months ended July 29th 2006 increased 11% to $763.4 million, compared to net sales of $689.1 million for the three months ended July 30, 2005. Net sales for the company's direct-to-consumer segment were $92.3 million during the three months ended July 29, 2006.

Net sales for the company's retail stores segment increased 5% to $671.0 million during the three months ended July 29th 2006. Consolidated comparable store sales for the company's retail store brands increased 2% during the three months ended July 29th 2006.

For the six months ended July 29th 2006, net income was $64.6 million, a 7% decrease compared to record net income of $69.4 million for the corresponding period ended July 30th 2005. This performance is consistent with the company's plans for the first half.

Net sales for the six months ended July 29th 2006 increased 16% to $1,498.3 million, compared to net sales of $1,292.4 million for the six months ended July 30th 2005. Net sales for the company's direct-to-consumer segment were $199.8 million during the six months ended July 29th 2006.

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