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January 29, 2002

USA: Charming Shoppes Axes 207 Stores

Retail giant Charming Shoppes Inc is to axe one of its plus-sized women's clothing chains and 207 stores in a move that will see it take a $37.5 million fourth-quarter pre-tax restructuring charge. In a statement released, the company said it intends to focus on building its more productive Lane Bryant chain and as a result will close the 77 outlets in the Added Dimensions/Answer chain, along with 130 under-performing Fashion Bug stores.

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