Charming Shoppes amends earnings guidance for year ending Jan, 28

08 Jul '05

7 min read

This projection assumes total consolidated sales in a range of $770 to $780 million and comparable store sales increases of low single digits for the Company's retail store brands. For the corresponding period ended January 29, 2005, diluted earnings per share were $0.04. During the fourth quarter ending January 28, 2006, the Company projects approximately $0.07 per diluted share accretion from the acquisition of Crosstown Traders.

Change in Sales Reporting Schedule for Fiscal Year 2007
Charming Shoppes Inc. also announced today that, beginning with next year's first fiscal quarter, the Company will commence reporting consolidated sales and comparative store sales on a quarterly basis, and will discontinue reporting consolidated sales and comparative store sales on a monthly basis.

With the addition of Crosstown Traders, the Company's Direct-To-Consumer businesses (e-commerce and catalog) have grown significantly, to approximately 20% of Charming Shoppes' total revenues.

These rapidly growing Direct-To- Consumer sales revenues, which are not generally reported in the same-store sales calculation within the retail industry, have led the Company to conclude that as a multi-channel retailer, the single metric of monthly same-stores sales is not sufficiently representative of the longer-term sales trends and profitability of the Company's businesses.

Charming Shoppes Inc which is one of the best retailer store operates 2,235 stores in 48 states under the names LANE BRYANT, FASHION BUG, FASHION BUG PLUS, and CATHERINES PLUS SIZES. Additionally, the following apparel, accessories, footwear and gift catalogs are operated by Charming Shoppes' Crosstown Traders: Old Pueblo Traders, Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Regalia, Intimate Appeal, Monterey Bay Clothing Company, Coward Shoe and Figi's.

Charming Shoppes Inc

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