Charming Shoppes, Inc. (Nasdaq: CHRS), a leading retail apparel chain specializing in women's plus- size apparel, today reported that total sales for the five weeks ended January 1, 2005 decreased 2% to $282,500,000 from $287,000,000 for the five weeks ended January 3, 2004. Comparable store sales for Charming Shoppes, Inc. decreased 3% for the five weeks ended January 1, 2005.
Based on December performance, the Company has revised projections for diluted earnings per share to a range of $0.05 - $0.07 for the 4th quarter ending January 29, 2005, as compared to prior guidance for the quarter of $0.08 - $0.10 per diluted share. The Company plans flat comparable store sales for the consolidated corporation during the 4th quarter ending January 29, 2005, which includes flat to positive low single digit comparable store sales for the consolidated corporation during January 2005.
Charming Shoppes' total sales for the forty-eight weeks ended January 1, 2005 increased 3% to $2,202,900,000 from $2,148,500,000 for the forty-eight weeks ended January 3, 2004. Comparable store sales increased 1% for the forty-eight weeks ended January 1, 2005.
Comparable store sales by chain for the five and forty-eight week periods ended January 1, 2005 were as follows:
Comparable Store Sales for Five Weeks Forty-eight Weeks Ended 1/1/05 Ended 1/1/05 Lane Bryant Stores -3% 4% Fashion Bug Stores -1% 1% Catherines Stores -7% -6% Total Corporation -3% 1%
For more detailed information on monthly sales, please call 1-866-CHRS-NEWS (1-866-247-7639) to listen to Charming Shoppes, Inc.'s prerecorded monthly sales commentary. This recording will be available until January 10, 2005.
Charming Shoppes, Inc. operates 2,247 stores in 48 states under the names LANE BRYANT(R), FASHION BUG(R), FASHION BUG PLUS(R), and CATHERINES PLUS SIZES(R). During the forty-eight weeks ended January 1, 2005 the Company opened 51, relocated 41, and closed 31 stores. Please visit http://www.charmingshoppes.com for additional information about Charming Shoppes, Inc.
This press release contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. These forward- looking statements include statements regarding future performance, earnings, sales, and other matters. Such forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those indicated. Such risks and uncertainties may include, but are not limited to: failure to achieve successful integrations, failure to successfully implement the Company's business plan for increased profitability and growth in the plus-size women's apparel business, changes in or miscalculation of fashion trends, extreme or unseasonable weather conditions, economic downturns, a weakness in overall consumer demand, failure to find suitable store locations, the ability to hire and train associates, trade restrictions and political or financial instability in countries where goods are manufactured, the interruption of merchandise flow to the Company's retail stores from its centralized distribution facilities, competitive pressures, and the adverse effects of natural disasters, acts or threats of war, terrorism, or other armed conflict on the United States and international economies. These, and other risks and uncertainties, are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2004.
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