Charming Shoppes (CHRS) Posts Q4 Loss of 6c/Share; Expects to Close 90-105 Stores in FY12
Charming Shoppes (NASDAQ: CHRS) reported Q4 EPS of ($0.06), $0.04 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $559.1 million versus the consensus estimate of $542.27 million.
Consolidated comps up 1%.
In 2012, the Company plans to close between 90 - 105 underperforming stores. This includes approximately 35-40 Fashion Bug stores, of which 19 stores closed in February 2012. The Catherines brand plans to close approximately 35-40 stores, including the remaining 15 stores in outlet centers which were previously announced for closing. Finally, Lane Bryant plans to close 20-25 stores, many due to lease expirations without an immediate, acceptable and strategic opportunity for relocation.
For earnings history and earnings-related data on Charming Shoppes (CHRS) click here.
Consolidated comps up 1%.
In 2012, the Company plans to close between 90 - 105 underperforming stores. This includes approximately 35-40 Fashion Bug stores, of which 19 stores closed in February 2012. The Catherines brand plans to close approximately 35-40 stores, including the remaining 15 stores in outlet centers which were previously announced for closing. Finally, Lane Bryant plans to close 20-25 stores, many due to lease expirations without an immediate, acceptable and strategic opportunity for relocation.
For earnings history and earnings-related data on Charming Shoppes (CHRS) click here.