USA: Charlotte Russe Reports Flagging Q3
Growing mall-based specialty retailer Charlotte Russe Holding Inc has reported a "challenging" third quarter, affected by the earlier Easter shifting sales into the second quarter and strong comparable sales last year.
Third-quarter net sales increased 10.4 per cent to USD146.9 million from USD133.0m in the same quarter last year.
Same-store sales decreased 0.9 per cent during the quarter, compared to an increase of 7.1 per cent for the third quarter of fiscal 2004.
Third-quarter net income fell 39 per cent to USD3.3m from USD5.4m a year ago.
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