Charming Shoppes dulls investors
Shares of Charming Shoppes, Inc. (Nasdaq:CHRS) are in negative territory on news before the start of trading that fourth-quarter net sales declined. The Bensalem, Pa.-based retailer of women’s plus-size apparel reported that net sales for the thirteen weeks ended Feb. 2, 2008, were $784.9 million, a decline of 10% compared with sales of $874.0 million in the same period of 2007.
“Clearly, our performance during the fourth quarter was extremely disappointing, and was impacted by downward traffic trends and response rates to our stores and catalogs, which we continue to experience,” said CEO Dorrit Bern in a statement.
At 2:34 p.m. ET, the stock had retreated $0.62, or 12%, to $4.69. For detailed price information and recent news stories about Charming Shoppes, click CHRS.
“Clearly, our performance during the fourth quarter was extremely disappointing, and was impacted by downward traffic trends and response rates to our stores and catalogs, which we continue to experience,” said CEO Dorrit Bern in a statement.
At 2:34 p.m. ET, the stock had retreated $0.62, or 12%, to $4.69. For detailed price information and recent news stories about Charming Shoppes, click CHRS.
About the Author
Reporter Alex Alexandrov is based in SmallCapInvestor.com's Washington, D.C. bureau.
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