(Corrects paragraph 4 on revenue beating estimates. Clarifies
I/B/E/S estimate in paragraph 3 and bullet)
* Q3 adj loss/shr $0.13 vs est loss $0.09
* Sales $463.6 mln vs est $459.0 mln
Dec 1 (BestGrowthStock) – Charming Shoppes Inc (CHRS.O: ) posted a
wider-than-expected quarterly loss, as the women’s plus-sized
apparel retailer did not see enough boost from sales despite
launching promotions to drive traffic.
The owner of the Lane Bryant and Fashion Bug brands posted
a loss of $18.8 million, 16 cents a share, compared with a loss
of $48.4 million, or 42 cents a share last year.
On an adjusted basis, it posted a loss of 13 cents, while
analysts, on average, were expecting a loss of 9 cents,
according to Thomson Reuters I/B/E/S.
Sales rose 1 percent to $463.6 million. Analysts expected
$459.0 million.
Charming Shoppes shares have lost some 13 percent of their
value since October, when James Fogarty stepped down as its
chief executive.
They closed at $3.805 on Tuesday on Nasdaq.
(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by
Maju Samuel)
CORRECTED – CORRECTED-UPDATE 1-Charming Shoppes Q3 loss wider than expected
