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Charming Shoppes

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BUSINESS
August 27, 1988 | By Barbara Demick, Inquirer Staff Writer
Charming Shoppes Inc., the women's clothing chain, yesterday reported that its second-quarter profits declined by one-third, less than the company anticipated. The company, which is based in Bensalem, blamed the results on the unpopularity of current women's fashions, a phenomenon that has plagued the retailing business for nearly a year. Bernard Brodsky, Charming Shoppes' vice president and treasurer, said the stores took steep markdowns in May and June to clear out unsold spring clothing.
BUSINESS
March 10, 1993 | By Julia C. Martinez, INQUIRER STAFF WRITER
Charming Shoppes Inc. posted record sales and earnings in the fourth quarter as nationwide expansion paid off for the Bensalem retailer. For the three months ended Jan. 30, the company's profits rose 31 percent; for the year they jumped 39 percent. Same-store sales grew by 6 percent for the quarter and 6.5 percent for the year, Charming Shoppes treasurer Bernard Brodsky said. Charming Shoppes, a chain of women's clothing shops, opened 129 stores in 1992, closed 46 and ended the year with 1,220 stores in 42 states.
BUSINESS
December 14, 1988 | By Barbara Demick, Inquirer Staff Writer
Charming Shoppes Inc. said yesterday that its chairman and chief executive, David V. Wachs, would add the title of president, replacing Steven Sidewater in the position. Sidewater, 45, will become vice chairman. Sidewater, the son of one of the company's founders, had been named president a year ago, following his father's retirement. In other moves, Richard DeRose is becoming a senior executive vice president and Ellis Wachs, the chairman's brother and another senior executive vice president, will relinquish responsibility for merchandising and devote his time to special projects.
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BUSINESS
August 13, 2014 | By Linda Loyd, Inquirer Staff Writer
Edward M. Krell is stepping down as chief executive of Destination Maternity Corp. "to pursue other opportunities," the Philadelphia-based apparel retailer announced on Monday. Krell, 52, will be succeeded by Anthony M. Romano, a member of Destination Maternity's board. The change comes after the company's July 25 announcement that it had dropped its bid to acquire Mothercare, a British retailer of maternity and children's products. Mothercare's board rebuffed two offers. Five days later, Destination Maternity, which operates A Pea in the Pod and Motherhood Maternity stores, reported disappointing fiscal third-quarter earnings that it said "were considerably weaker than planned.
BUSINESS
July 5, 2012 | By Maria Panaritis and INQUIRER STAFF WRITER
The chief executive of Ascena Retail Group Inc. said Tuesday a plan was in place to preserve jobs of 7,500 employees at soon-to-be-shuttered Fashion Bug stores, as well as among 600 workers at the former Philadelphia-area headquarters of Charming Shoppes Inc., after Ascena acquired one of the region's few remaining apparel companies. The Suffern, N.Y.-based owner of Dressbarn, Justice and Maurices stores is committed for at least three years to the Bensalem facility that housed executive and administrative offices for Charming Shoppes.
BUSINESS
June 25, 2012 | By Maria Panaritis and INQUIRER STAFF WRITER
They call it the retail graveyard, because no matter how hot a store may be in its heyday, odds are it won't outduel Father Time. When a retailer is down to its last stitch of mojo, it is buried like others that once might have been considered immortal (John Wanamaker, Borders, Circuit City). So it goes with one of the region's oldest remaining apparel chains: Fashion Bug. Sprung from what began as a Philadelphia retailer 70 years ago, it is on a death march to its final resting place, a casualty in the fierce competition to sell moderately priced clothes and accessories to women.
BUSINESS
June 17, 2012 | Inquirer Staff Report
IN THE REGION Charming's sale complete Ascena Retail Group Inc. has completed its buyout of Lane Bryant owner Charming Shoppes Inc. and is taking steps to shed parts of the acquired business that it doesn't want. Ascena said in May that it was buying Charming Shoppes, of Bensalem, for about $890 million. The deal gives Ascena access to the large-size women's clothing market with Lane Bryant and Catherines Plus Sizes stores. But Ascena said Friday that it planned to close Charming Shoppes' remaining Fashion Bug operations by early next year and that it may sell Charming's direct-marketing business, Figi's.
NEWS
May 17, 2012 | Elizabeth Wellington
Under billowing tents in Aviator Park, Moore College of Art & Design presented its annual end-of-year fashion show Saturday night with aplomb. The collections showed depth and creativity and represented looks from decades past, with Laura Galindo's Mad Men-esquetailored pieces and Caralyn Scudner's children's wear infused with 1960s flower prints. Scudner won the Charming Shoppes Inc. Award for the most salable collection and the Jannaman Award for best construction. Great choice.
NEWS
May 3, 2012 | Breaking News Desk
Bensalem-based Charming Shoppes, Inc. has reached an agreement to be acquired by Ascena Retail Group, Inc. for $890 million, according to a joint statement on the company's website. Charming Shoppes is the parent company of Lane Bryant, Fashion Bug and Catherines Plus Sizes and operates 1,800 retail stores nationwide. It also operates Figi's, a direct marketing business. Ascena owns the Dressbarn, Maurices and Justice brands, which have 2,500 stores in the United States, Puerto Rico and Canada?
BUSINESS
April 9, 2012 | Inquirer Staff Report
Securities trades recently reported to the Securities and Exchange Commission by officers, directors and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. Amerigas Partners L.P. John S. Iannarelli, chief financial officer, bought 470 shares at 40.38 on Mar. 28, and now directly holds 5,027 shares. Buckeye Partners L.P. Khalid A. Muslih, officer, sold 19,000 shares at 62.00 to 62.06 on Mar. 27, and now directly holds 41,750 shares.
NEWS
March 28, 2012 | Maria Panaritis, Inquirer Staff Writer
Charming Shoppes Inc. said Tuesday that its Lane Bryant stores did not do as well as expected during the holiday shopping season, and executives gave investors little information when asked about ongoing efforts to sell the company's Fashion Bug division. The Bensalem-based retailer reported that it was unprofitable in the year that ended Jan. 28, during which it closed 207 stores and said it would seek to divest Fashion Bug. In its financial filings, the company, which also owns Catherines stores, said it planned to close another 90 to 105 stores this year as it continues efforts to focus on the Lane Bryant chain.
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