- Charming Shoppes to sell off Fashion Bug, add 125 Lane Bryant stores
- Charming Shoppes to close 240 stores
- Ascena Retail to acquire Charming Shoppes for $890 million
- Charming Shoppes selects Oracle Retail to drive cross-channel growth, improve inventory management
- Charming Shoppe’s Lane Bryant rolls out personalized search technology
Bensalem, Pa., Charming Shoppes Inc. said Wednesday that profit jumped nearly 70% in the fiscal third quarter as its newly acquired catalog business added to sales.
For the three months ended Oct. 29, the company earned $10.8 million, or 9? per share, up from $6.4 million, or 5? a share, a year earlier. Revenue rose 22% to $663.3 million from $541.8 million, helped by a boost from the Crosstown Traders catalog business acquired in June. Same-store sales rose 3%.
Charming Shoppes noted that it had unusual gains in the third quarter from insurance reimbursements and a lawsuit settlement, but said these were offset by a charge related to its decision to repatriate foreign earnings to take advantage of a government tax break.