Charlotte Russe raises Q1 earnings per share guidance

17 Jan '08

2 min read

Charlotte Russe Holding Inc, a growing mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties reported net sales for the first quarter ended December 29, 2007, of $238.2 million, compared to net sales of $209.2 million reported for the quarter ended December 30, 2006 or an increase of 13.9%. Comparable store sales increased 1.5% for the same time period.

First quarter sales results exceeded prior guidance of flat to low single digit decline in comparable store sales. As a result, the Company expects to report first quarter 2008 diluted earnings per share of between $0.55 to $0.56 as compared to previous guidance of $0.47 to $0.50 per diluted earnings per share.

Based on the current retail environment, the Company would guide investors to expect a low single digit comparable store sales increase for the second quarter of fiscal 2008 with diluted earnings per share of $0.12 to $0.15.

As a reminder, the Company will be presenting at the 10th Annual ICR XChange Conference held at the St. Regis Monarch Beach Resort & Spa in Dana Point, California on Thursday, January 17, 2008 at 11:20 a.m. Pacific Standard Time.

The Company is scheduled to release first quarter earnings on January 23, 2008 and is hosting a conference call at 2:00 p.m. Pacific Time which will be broadcast over the internet company's website.

Charlotte Russe Holding Inc

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