Charming Shoppes' 4Q Loss Narrower Than Views
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BENSALEM, Pa. (AP) Women's apparel retailer Charming Shoppes Inc. on Wednesday reported a narrower loss from continuing operations in its fourth quarter than Wall Street expected, but sales at established stores dropped sharply.
For the quarter ended Jan. 31, the company which operates Lane Bryant, Fashion Bug and Catherines posted a net loss of $108.5 million, or 94 cents per share, compared with a net loss of $124.4 million, or $1.07 per share, a year earlier. Last year's results included discontinued operations that inflated the company's loss. Excluding those, the company reported a loss of 39 cents per share. Excluding goodwill, store impairment and restructuring charges, the Bensalem, Pa, company said it had a loss of 34 cents per share for the 2008 fourth quarter. Analysts polled by Thomson Reuters expected a loss of 38 cents per share for the quarter. Analyst estimates typically exclude one-time charges and gains. Revenue fell 14 percent to $631.9 million from $731.8 million. Analysts predicted revenue of $639 million. Same-store sales, or sales at stores open at least a year, for all of the company's chains including Lane Bryant and Fashion Bug fell 15 percent during the quarter.- Loading Comments...
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