August 25, 1989 |
Charming Shoppes Inc. yesterday reported increases in both sales and earnings for the quarter that ended July 29. The Bensalem apparel chain said that most of the sales gain had come from continued expansion of the chain. Sales in stores that had been open more than a year rose just 3 percent. Bernard Brodsky, vice president and treasurer, said that profits had increased sharply because of better gross margins and expense control. "Although the sales weren't that much higher on a store-for-store basis, the selling and administrative expenses kept down," Brodsky said.
November 22, 1989 |
After a strong start to its fiscal year, Charming Shoppes Inc. lost momentum in the third quarter. The Bensalem-based retailer said profits had fallen 18 percent in the quarter ended Oct. 28. The company blamed unusually mild autumn weather and poor demand for sweaters. "We expected to do a lot better," said Bernard Brodsky, Charming Shoppes' treasurer. "Our sales were below plan, and our markdowns were above plan. " Although Charming Shoppes' sales were 10 percent higher than in the same quarter last year, most of the gains came from the opening of new stores.
October 11, 1995 |
Charming Shoppes, the Bensalem retailer that operates the Fashion Bug women's apparel chain, yesterday said its lenders had rejected a plan to restructure $150 million in debt. The company also said it had approvals for a $30 million short-term loan, but that the banks that have supplied the long-term line of credit are balking at approving that, too. Bernard Brodsky, Charming Shoppes' treasurer, said the company was continuing to negotiate with its lenders. Brodsky would not discuss the terms of the proposed loan packages or name the lenders involved.
March 11, 2008 |
Beleaguered plus-size clothing retailer Charming Shoppes Inc. said yesterday it filed a federal lawsuit against several activist shareholders, likening them to "corporate raiders" trying to destabilize the company. The investors whose efforts to shake up operations at Charming Shoppes provoked the lawsuit responded by saying the suit was "baseless" and an attempt "to usurp corporate democracy and disenfranchise shareholders. " The lawsuit marks an increasingly hostile phase in a fight for control of the Bensalem company that runs Lane Bryant, Fashion Bug and other stores.
November 10, 1995 |
Charming Shoppes Inc. yesterday announced that it had eliminated 100 positions in its corporate headquarters. The layoffs, according to a company statement, came "as a reaction to business conditions and in connection with its ongoing efforts to streamline its operations. " The layoffs eliminate more than 10 percent of 965 jobs at the Bensalem headquarters and a distribution center. "We're being responsible" to the shareholders, treasurer and vice president Bernard Brodsky said.
April 4, 2008 |
Charming Shoppes Inc., of Bensalem, has launched a major strike in its campaign to protect its chief executive officer and two others from being booted next month from its board of directors. The struggling retailer of plus-size women's apparel began mailing out definitive proxy materials Wednesday, which included a strongly worded letter urging shareholders to reelect Dorrit J. Bern and two other incumbents at its May 8 shareholder meeting. The company that runs the Lane Bryant and Fashion Bug chains said Bern, the longtime CEO who also is chairwoman of the board, should continue leading its financial recovery.
March 8, 1989 |
Charming Shoppes Inc., the Bensalem women's apparel chain, yesterday reported record earnings per share in its fourth quarter, though profits fell for the full fiscal year. Bernard Brodsky, company vice president and treasurer, said the quarterly earnings surge was the result of a strong holiday season. But he added that the dramatic profit gains for the quarter also reflected a weak performance in last year's fourth quarter. Brodsky attributed a fall in profits for all of 1988 to an unanticipated shift in women's fashion preferences early in the year.