Charming Shoppes reports Q3 sales dip

US: Charming Shoppes reports Q3 sales dip

By just-style.com | 1 December 2010

Adjusted EBITDA was $4.0m compared to $6.3m in the third quarter of the prior year
Same-store sales increased 3%
E-commerce sales increased 40%

Charming Shoppes, a multi-brand apparel retailer of women's plus-size apparel, reported lower profits for the three month period ended 30 October.

Anthony M Romano, executive vice president and chief operating officer of Charming Shoppes, said: "We continue to make progress on executing our merchandise strategies. We experienced increases in our total and comparable store sales performance, while increasing our gross margin 60 basis points during the period.

"Our strong and competitive promotional activity drove improved traffic, especially later in the quarter. Additionally, our online businesses continued to perform strongly, driving a 40% increase in e-commerce sales for the quarter."

Click here to view the company's full third quarter financial earnings.

Sectors: Apparel, Retail

Companies: Charming Shoppes