By  on June 1, 2012

Persistent promotional pressures depressed Charming Shoppes Inc.’s first-quarter profits despite stabilizing sales trends.


In what is likely to be the final quarterly earnings report before its anticipated mid-June acquisition by Ascena Retail Group Inc., the Bensalem, Pa.-based operator of Lane Bryant plus-size stores generated net income of $17.8 million, or 15 cents a diluted share, 31.7 percent below the $26 million, or 22 cents, realized in the first quarter of 2011. Adjusting for nonrecurring items in the quarters for both years, EPS was 16 cents, 2 cents below the analyst consensus estimate of 18 cents, compared to 18 cents in the year-ago period.

To continue reading this article...

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus