FINANCE

Charming Shoppes narrows Q3 loss

BY CSA STAFF

Bensalem, Pa. — Charming Shoppes reported a smaller loss for its third fiscal quarter on Wednesday, helped by lower operating expenses and competitive promotions that attracted customers. The chain posted a net loss of $18.8 million for the period ended Oct. 30, compared with a loss of $48.4 million, in the prior-year period.

Revenue increased 1% to $463.6 million from $460.2 million, with online sales up 40%. Same-store sales rose 3%.

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REAL ESTATE

Juicy Couture on Manhattan’s Fifth Avenue closed due to bed bugs

BY CSA STAFF

New York City — Juicy Couture’s store on Fifth Avenue in Manhattan has been temporarily closed due to the discovery of bed bugs.

“Like other major retailers recently impacted by this issue, we are moving swiftly and aggressively to address the problem. We expect the store to re-open later this week,” the company said in a statement. “The people who shop and work at the store are our top priority and we are taking all necessary precautions.”

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FINANCE

Jos. A. Banks fall short of estimates

BY CSA STAFF

Hampstead, Md. — Jos. A. Banks posted a profit of $12.6 million during the fiscal 2010 third quarter ended Oct. 30, compared with a profit of $11.7 million in the year age period. It was the 36th quarter out of the past 37 with earnings growth compared with prior year periods.

Revenue increased 7.4% to $173.3 million from $161.3 million a year ago. Same-store sales increased 3% in the quarter.

Both earnings and sales trailed analysts’ estimates.

“Sales for the quarter were positive but started out below plan in August and then picked up in September and October with each month getting progressively better," said CEO R. Neal Black." Right now, to date, the fourth quarter has started out strong. November suit sales and total sales were up substantially compared to last year and were ahead of our plans.”

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