"The recent slow down in consumer spend and traffic that began in June and has continued through July is the basis for our sales guidance for the fourth quarter of flat comparable store sales. This guidance assumes an improvement in consumer spend and traffic consistent with the calendar shifts for back-to-school."
"Therefore, we are projecting August and September to deliver low single digit comparable store sales increases resulting in a flat comparable store sales increase for the fourth quarter."
"With that said, our merchandise assortments are fashion and trend right. Our inventory aging and productivity trends continue to deliver significant improvements. We believe that we have focus on the right strategies to continue to deliver success."
"During the third quarter, we successfully completed the roll-out of our new POS system which has increased speed of service and streamlined in-store processes. On July 12th, we also soft launched our Charlotte Russe e-commerce site."
"This together with our new POS capabilities has established a platform for enhanced customer service and integrated relationship marketing," Mr. Hoffman continued, "our goal for the next several years is to post consistent double-digit earnings growth. Our store opening schedule and remodels, combined with our push to upgrade our infrastructure and management team, are all important contributors to our growth plan."
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Charlotte Russe Holding Inc
marketing@alchempro.com
