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Charlotte Russe net sales up 30% for Q4 of fiscal 2005

14 Oct '05

2 min read

San Diego based growing mall-based fashion retailer Charlotte Russe Holding Inc reported that net sales increased 30 percent during the fourth quarter of fiscal 2005, which ended on September 24, 2005. Sales at comparable stores increased 12.9 percent during the fourth quarter, which exceeded the previous guidance on July 21st of a mid single-digit increase.

Based on these sales results, the company currently expects diluted earnings per share in the fourth quarter to range from $0.25 to $0.27 subject to year-end adjustments, issues potentially raised by the annual audit and Sarbanes-Oxley Act procedures, and finalization of our physical inventory reconciliation processes.

This compares to the previous guidance on July 21st of a range from $0.16 to $0.20 per share.

Management expects to release the fourth quarter financial results before the market opens on Friday, November 4, 2005, with a teleconference call scheduled for 8:00 a.m. (Pacific Time).

Charlotte Russe Holding Inc retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties. The company operated a total of 388 stores in 40 states and Puerto Rico, as of June 25, 2005, comprised of 321 Charlotte Russe stores and 67 Rampage stores.

A total of 28 new stores were opened during the first nine months of fiscal 2005, and the company expects to open up to 50 new stores during the fiscal year ending in September 2005.

Charlotte Russe Holding Inc

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