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Charming Shoppes

BUSINESS
November 16, 2006 | By Stacey Burling INQUIRER STAFF WRITER
Charming Shoppes Inc. yesterday reported an 80 percent rise in third-quarter net income and raised its projection for full-year earnings. Net income for the third quarter, which ended Oct. 28, rose to $19.4 million from $10.8 million in the year-earlier period. That translates into an increase in net income per share, from 9 cents a year ago to 15 cents in the latest period. Sales rose 4.8 percent, from $663.7 million to $695.3 million. The Bensalem retailer is now projecting diluted earnings per share of 84 or 85 cents for the fiscal year ending Feb. 3 from an earlier projection of 81 to 83 cents.
BUSINESS
March 17, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
Americans are getting bigger and busier, and retailers such as Charming Shoppes Inc., which specializes in women's plus-size apparel, are directly benefiting, according to its chief executive officer. Dorrit J. Bern, chairwoman, CEO and president of the Bensalem chain, has seen sales and profit margins rise for the company's Lane Bryant and Catherines Plus Sizes brands. Demand for larger-size clothes is rising in part because Americans themselves are larger. "A lot of it just has to do with the American lifestyle," Bern said yesterday, referring to fast food and lack of exercise.
BUSINESS
August 18, 2005 | By Wendy Tanaka INQUIRER STAFF WRITER
Plus-size-apparel retailer Charming Shoppes Inc. said yesterday that second-quarter net income rose 46 percent, as sales increased to a record $688.4 million from $611.7 million in the same period last year. "It was a very good quarter," Dorrit J. Bern, chairman and chief executive officer, said in a conference call. "What was interesting about the quarter was that there were a lot of items that sold across the business," including capri pants and camisoles. The Bensalem company reported record net income of $39.6 million, or 30 cents a share, for the quarter ended July 30, compared with net income of $27.1 million, or 21 cents a share, for the same period a year ago. The earnings beat the company's and analysts' estimates for the quarter.
BUSINESS
August 18, 2005 | By Wendy Tanaka INQUIRER STAFF WRITER
Dorrit J. Bern envisions a future where her typical customer wakes up each morning under Lane Bryant sheets, makes breakfast using a Lane Bryant toaster, dresses in Lane Bryant clothes, and sprays on Lane Bryant cologne before dashing out the door. And when she is relaxing at home, she reads Figure, the magazine that Lane Bryant's parent, Charming Shoppes Inc., launched in 2003 for plus-size women. "The idea is we can truly become, with the power of the existing brands, a lifestyle player for women," Bern, chairwoman and chief executive officer of Charming Shoppes Inc., said in a recent interview.
BUSINESS
July 8, 2005 | By Wendy Tanaka INQUIRER STAFF WRITER
Charming Shoppes Inc. shares rose more than 10 percent yesterday after the company increased its second-quarter and full-year earnings forecasts, based on strong sales at stores open at least a year and its recent acquisition of catalog operator Crosstown Traders Inc. Shares of Bensalem-based Charming Shoppes - which owns women's and plus-size retailers Lane Bryant, Catherines Plus Sizes, and Fashion Bug - closed up $1.02, or 10.5 percent, at...
BUSINESS
May 20, 2005 | By Wendy Tanaka INQUIRER STAFF WRITER
Plus-size apparel retailer Charming Shoppes Inc. said yesterday that it had agreed to acquire catalog operator Crosstown Traders Inc. for $218 million in cash. The move will give Bensalem-based Charming Shoppes, which operates Lane Bryant stores, the means to take over the Lane Bryant catalog business from Redcats USA, a catalog operator in New York, in 2007. Crosstown has distribution and fulfillment warehouses, and call centers. "This is a significant milestone in Charming Shoppes' transformation into a multichannel retailer," chairman and chief executive officer Dorrit J. Bern said in a statement.
BUSINESS
March 17, 2005 | By Wendy Tanaka INQUIRER STAFF WRITER
Women's plus-size retailer Charming Shoppes Inc. said yesterday that fourth-quarter net income fell 46 percent primarily because it did not offer enough discounts in December. "We stubbed our toe in the fourth quarter," president and chief executive officer Dorrit J. Bern said in a conference call. "We did not take the aggressive promotional posture that our competition did, and we got slammed in the second and third weeks of December. " For the quarter ended Jan. 29, the Bensalem-based company reported net income of $5.5 million, or 5 cents a share, compared with $10.1 million, or 9 cents a share, for the same period a year ago. The year-ago earnings included a $5 million pretax gain related to employee medical benefits.
BUSINESS
December 26, 2004 | By Porus P. Cooper INQUIRER STAFF WRITER
A Philadelphia hospital (Medical College of Pennsylvania Hospital) given up for dead by its parent company was saved, but a top-selling drug (Merck's Vioxx) didn't make it. A record number of passengers flew out of Philadelphia International Airport in 2004, but the main airline serving the region (US Airways) filed for bankruptcy protection for the second time in three years. Donald Trump raised his popularity to new heights by firing people on TV, but his casino company entered bankruptcy proceedings.
BUSINESS
December 17, 2004 | By Wendy Tanaka INQUIRER STAFF WRITER
With the holiday season upon us, a trip to the merchandise return counter can't be far behind. Just be sure to bring along your receipt - and, in some cases, a photo ID, too. Some retailers have begun implementing stricter return policies that require photo identification - such as a driver's license - to complete the return, even if the returner has a receipt and price tags are still on the item. The reason? Fraud. According to the National Retail Federation, returns of used or stolen merchandise are costing the industry $16 billion annually.
NEWS
November 19, 2004
Hoping city architecture gets past modernism In Inga Saffron's Nov. 7 column, "Modernism gets a new welcome in Phila.," she notes that "Philadelphia is finally joining the main architectural conversation taking place across America, Europe and Asia. " Thankfully, modernism gave way to postmodernism more than 20 years ago. Saffron is right when she observes that modernism deservedly obtained a bad name because of its failure to connect with its environment and its total disregard for history.
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