Charming Shoppes Expects Fiscal 1Q Loss

BENSALEM, Pa. (AP) — Women's apparel retailer Charming Shoppes Inc. on Wednesday it will likely report a loss in its first quarter due to an expected double-digit decline in same-store sales.

The owner of the Lane Bryant, Fashion Bug and Catherine's chains said it expects to report a loss between 9 cents per share and 13 cents per share including special items — or a loss of between 3 cents per share and 7 cents per share excluding charges and gains — in the period.

Analysts polled by Thomson Reuters anticipate a loss of 6 cents per share for the period. Analyst estimates typically exclude one-time charges and gains.

In the 2008 first quarter, the company had a loss from continuing operations of a penny per share including special items.

The retailer said it anticipates revenue between $535 million to $545 million, compared with sales of $641 million in last year's first quarter.

Charming Shoppes said it expects consolidated same-store sales, or sales at stores open at least a year, to drop by low double-digits.