Commenting on earnings, Dorrit J. Bern, Chairman, Chief Executive Officer and President of Charming Shoppes, Inc., said, "They are pleased to report record earnings for both second quarter and first half. Our results for the second quarter include solid improvement in operating income for each of retail store brands. At Lane Bryant, Catherines Plus Sizes and Fashion Bug, the strong sell-through of seasonal merchandise during the quarter resulted in a significant improvement in the gross margin for the consolidated corporation."
Updated Outlook for the Fiscal Year ending January 28, 2006
For the fiscal year ending January 28, 2006, the Company has provided an updated projection for diluted earnings per share in the range of $0.73 -- $0.75, compared to $0.52 per diluted share for the corresponding period ended January 29, 2005. The Company's previous guidance for the fiscal year ending January 28, 2006 was in the range of $0.69 -$0.73 per diluted share.
Outlook for the Third Quarter ending October 29, 2005
For the third quarter ending October 29, 2005, the Company has reaffirmed projections for diluted earnings per share in the range of $0.07 - $0.08. This projection assumes total consolidated sales in a range of $650 to $660 million and consolidated comparable store sales increases of low single digits for the Company's retail store brands. For the corresponding period ended October 30, 2004, diluted earnings per share were $0.05.
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