With respect to continuing operations, net sales for the third quarter increased 32% to $163 million from $123 million for the third quarter last year, and comparable store sales at the Charlotte Russe stores increased 18.2% during the quarter, compared to a decrease of 2.5% for the third quarter of fiscal 2005.
With respect to continuing operations, net sales for the first 39 weeks of fiscal 2006 increased 38% to $498 million from $362 million for the same period last year, and comparable store sales at the Charlotte Russe stores increased 18.4% during the 39-week period, compared to a decrease of 3.3% for the same period of fiscal 2005.
Income from continuing operations before income taxes for the third quarter was $14.7 million as compared to $5.4 million for the same quarter last year. Net income from continuing operations increased 153% to $8.8 million from $3.5 million during the same quarter last year. Diluted earnings per share from continuing operations of 36 cents for the quarter compared to 15 cents for the same quarter of the prior year, an increase of 140%. Included in the quarterly results last year was a $0.5 million pre-tax charge, which impacted earnings per share by 1 cent, associated with the settlement of a lawsuit related to the classification of our California store managers for wage and hour purposes.
Income from continuing operations before income taxes for the first 39 weeks of fiscal 2006 was $38.0 million as comparedto $13.3 million for the same period last year. Net income from continuing operations increased 176% to $22.9 million from $8.3 million for the same period last year. Diluted earnings per share from continuing operations for the 39-week period were 93 cents as compared to 35 cents for the same period of the prior year, an increase of 166%.
Charlotte Russe Holding Inc is a mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties. It expects to open 40 new Charlotte Russe stores during the fiscal year ending in September and at least 50 new Charlotte Russe stores in fiscal 2007.
Charlotte Russe Holding Inc
marketing@alchempro.com
