Charming Shoppes swings to loss in Q2
Bensalem, Pa. Plus-size retailer Charming Shoppes reported Wednesday a loss of $8.6 million in the quarter ended July 31, compared with a profit of $5 million in the year-ago period.
Sales for the quarter dipped 1.8% to $517.6 million. Same-store sales increased 1%, and e-commerce sales rose 36% to $30.5 million.
Jim Fogarty, president and CEO of Charming Shoppes said that the company is “an operating turnaround, and my team and I are focused on the success of that turnaround.”
The retailer made a number of executive changes during the quarter, including the appointments of a new president at Fashion Bug, a new president at Outlets, and a new executive VP merchandising and product development, at Fashion Bug.
The retailer operates 2,108 stores in 48 states under the banners Lane Bryant, Cacique, Lane Bryant Outlet, Fashion Bug, Fashion Bug Plus and Catherine’s Plus Sizes.