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Charlotte Russe reports same store sales declines 0.9%
21 Jul '05
5 min read
Operating income for the third quarter was $5.1 million as compared to $8.9 million for the same quarter last year. Net income decreased 39 percent to $3.3 million from $5.4 million during the same quarter last year. Diluted earnings per share of 14 cents for the quarter compared to 23 cents for the same quarter of the prior year, a decrease of 39 percent. Included in the quarterly results was a $0.5 million pre-tax charge, which impacted earnings per share by 1 cent, associated with the tentative settlement of a lawsuit related to the classification of our California store managers for wage and hour purposes.
Operating income for the first 39 weeks of fiscal 2005 was $7.2 million as compared to $19.3 million for the same period last year, before taking into account the reversal of $325,000 of store closure costs last year. Net income decreased 61 percent to $4.7 million from $12.0 million for the same period last year. Diluted earnings per share for the 39-week period were 20 cents as compared to 50 cents for the same period of the prior year, a decrease of 60 percent.
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.
The "Charlotte Russe" stores offer fashionable, affordable apparel and accessories that have been tested and accepted by the marketplace, thus appealing to women who prefer established fashion trends. The "Rampage" stores feature trendsetting apparel and accessories and thus appeal to women with a flair for making fashion statements and who want runway-inspired fashion, quality and value.
Operating income for the first 39 weeks of fiscal 2005 was $7.2 million as compared to $19.3 million for the same period last year, before taking into account the reversal of $325,000 of store closure costs last year. Net income decreased 61 percent to $4.7 million from $12.0 million for the same period last year. Diluted earnings per share for the 39-week period were 20 cents as compared to 50 cents for the same period of the prior year, a decrease of 60 percent.
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.
The "Charlotte Russe" stores offer fashionable, affordable apparel and accessories that have been tested and accepted by the marketplace, thus appealing to women who prefer established fashion trends. The "Rampage" stores feature trendsetting apparel and accessories and thus appeal to women with a flair for making fashion statements and who want runway-inspired fashion, quality and value.
Charlotte Russe Holding Inc
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